{
  "source": "https://predictionmarketlaws.com",
  "license": "Free to reuse with a link to predictionmarketlaws.com",
  "checked": "2026-10-21",
  "platforms": [
    {
      "slug": "kalshi",
      "name": "Kalshi",
      "aliases": [
        "Kalshi",
        "KalshiEX"
      ],
      "state_pages": true,
      "kind": "exchange",
      "tagline": "A CFTC-designated exchange whose event contracts also appear inside partner apps.",
      "operator": "KalshiEX LLC",
      "operator_slug": "kalshi",
      "how_offered": "Kalshi's own website (kalshi.com) and mobile app. Its contracts are also offered inside partner apps, including Coinbase (live in all 50 states through Kalshi, per The Block, January 2026) and Webull (partnership reported February 2025).",
      "routes_through": null,
      "launched": {
        "date": "2021-07",
        "text": "Kalshi launched its trading platform in July 2021, after the CFTC designated KalshiEX LLC as a contract market in November 2020.",
        "source_url": "https://sigma.world/news/from-launch-to-lawsuits-kalshis-tumultous-timeline/"
      },
      "availability": {
        "summary": "Kalshi does not publish a list of US states where it is unavailable; its help center and Member Agreement name only foreign jurisdictions as restricted. Court orders have made it block sports contracts (and, in Nevada and Washington, other categories) in Nevada, Michigan and Washington, which it told users there.",
        "model": "unclear",
        "listed_states": [],
        "sports_restricted_states": [
          "MI",
          "NV",
          "WA"
        ],
        "per_state_notes": [
          {
            "state": "NV",
            "note": "Kalshi stopped new trades in sports, entertainment and election markets for Nevada users on March 21, 2026, after a state-court temporary restraining order, and told customers by email. Other markets stayed open.",
            "source_url": "https://cdcgaming.com/kalshi-halts-nevada-betting-saturday/"
          },
          {
            "state": "NV",
            "note": "Nevada's Gaming Control Board said on June 1, 2026 that a state-court preliminary injunction bars Kalshi from sports-, election- and entertainment-related contracts in Nevada. Covers reported on July 27, 2026 that Kalshi agreed to a third-party geofence by August 12, 2026.",
            "source_url": "https://www.gaming.nv.gov/contentassets/b9f7b024bdbc4c8693d3a511ea5d9841/nevada-gaming-control-board-provides-enforcement-litigation-update.pdf"
          },
          {
            "state": "MI",
            "note": "An Ingham County Circuit Court preliminary injunction (signed September 1, 2026) bars Kalshi's sports contracts in Michigan and requires geofencing, with $500,000-per-day fines for violations. Kalshi began restricting Michigan sports markets after a June 29, 2026 restraining order; InGame reported on August 14, 2026 that the geofence worked only on the latest app version.",
            "source_url": "https://www.michigan.gov/ag/news/press-releases/2026/09/02/ag-nessel-secures-second-order-halting-unlawful-kalshi-sports-wagers-in-michigan"
          },
          {
            "state": "MI",
            "note": "Kalshi's head of communications said after the June 2026 restraining order that Kalshi was implementing restrictions in Michigan.",
            "source_url": "https://www.covers.com/industry/michigan-kalshi-sports-betting-lawsuit-restraining-order-ban-june-2026"
          },
          {
            "state": "WA",
            "note": "A King County Superior Court order announced August 13, 2026 bars Kalshi from sports, elections, politics, entertainment, culture, tech and science, and mentions contracts in Washington, with geofencing due by September 2, 2026. Commodities, climate, economics and finance contracts remain allowed.",
            "source_url": "https://www.atg.wa.gov/news/news-releases/judge-orders-kalshi-cease-numerous-washington-operations"
          },
          {
            "state": "WA",
            "note": "Public Gaming reported on August 21, 2026 that Kalshi had messaged Washington users that these categories were no longer tradable there.",
            "source_url": "https://mail.publicgaming.com/news-categories-m/legal/16292-kalshi-shuts-down-sports-in-washington-after-court-order"
          },
          {
            "state": "MA",
            "note": "A January 2026 state-court injunction against Kalshi's sports contracts in Massachusetts was put on hold pending appeal in February 2026. CBS Sports reported on October 21, 2026 that Kalshi still awaits a Supreme Judicial Court ruling. A Gambling.com headline from August 25, 2026 said the ban was in force, so current status is conflicting.",
            "source_url": "https://news.bloomberglaw.com/crypto/kalshi-wins-breathing-room-on-massachusetts-ban-during-appeal"
          },
          {
            "state": "UT",
            "note": "After a federal judge ruled in August 2026 that Utah may enforce its gambling laws against Kalshi, CDC Gaming reported Kalshi was still available in Utah. No later source confirming a Utah block was found.",
            "source_url": "https://cdcgaming.com/brief/eight-states-now-have-authority-to-ban-or-restrict-kalshi/"
          }
        ],
        "source_url": "https://help.kalshi.com/account/signing-up/signing-up-as-an-individual",
        "source_name": "Kalshi Help Center: Signing Up as an Individual (updated March 10, 2026)",
        "as_of": "2026-10-22"
      },
      "min_age": {
        "age": 18,
        "exceptions": [],
        "source_url": "https://help.kalshi.com/account/signing-up/signing-up-as-an-individual"
      },
      "tax_reporting": {
        "text": "Kalshi says users who meet IRS reporting thresholds get Form 1099-INT (interest), 1099-MISC (credits and rewards), 1099-B (proceeds from crypto transfers) and 1099-DA (digital asset reporting from ZeroHash). The forms appear under Tax Info in the Account tab, and some are emailed through Zenwork. Kalshi gives no dollar thresholds or issue dates. Trading profit-and-loss statements are in the documents tab (help article updated June 22, 2026).",
        "source_url": "https://help.kalshi.com/en/articles/13823849-what-tax-documentation-does-kalshi-provide",
        "quote": "1099-B - contains transaction proceeds from broker transactions (crypto transfers)"
      },
      "kyc": {
        "text": "Kalshi requires legal name, date of birth and a residential address (no commercial addresses or PO boxes) that match a government ID. It asks for a live in-app photo of a driver's license or passport. It may also ask for proof of address, employment information or source of funds. It may request a Social Security number at any point after signup, which it uses for identity verification and tax reporting; an SSN is not required to deposit. (Help articles updated June 30 and August 25, 2026.)",
        "source_url": "https://help.kalshi.com/en/articles/13823782-what-information-is-required-to-verify-my-kalshi-account",
        "quote": "take a live photo of your physical ID directly through the app"
      },
      "contract_categories": [
        "sports",
        "politics",
        "elections",
        "culture",
        "entertainment",
        "crypto",
        "economics",
        "finance",
        "commodities",
        "climate",
        "weather",
        "tech and science",
        "mentions",
        "world news"
      ],
      "regulator_note": {
        "text": "KalshiEX LLC is a CFTC-designated contract market, designated in November 2020. Its affiliate Kalshi Klear LLC received CFTC registration as a derivatives clearing organization in August 2024.",
        "source_url": "https://help.kalshi.com/en/articles/13823765-how-is-kalshi-regulated",
        "quote": "Kalshi is regulated as a Designated Contract Market (DCM), which is a financial exchange"
      },
      "sources": [
        {
          "name": "Kalshi Help Center: Signing Up as an Individual (updated 2026-03-10)",
          "url": "https://help.kalshi.com/account/signing-up/signing-up-as-an-individual"
        },
        {
          "name": "Kalshi Help Center: What information is required to verify my Kalshi account? (updated 2026-06-30)",
          "url": "https://help.kalshi.com/en/articles/13823782-what-information-is-required-to-verify-my-kalshi-account"
        },
        {
          "name": "Kalshi Help Center: How is Kalshi regulated? (dated 2026-03-19)",
          "url": "https://help.kalshi.com/en/articles/13823765-how-is-kalshi-regulated"
        },
        {
          "name": "Kalshi Help Center: What Tax Documentation Does Kalshi Provide? (updated 2026-06-22)",
          "url": "https://help.kalshi.com/en/articles/13823849-what-tax-documentation-does-kalshi-provide"
        },
        {
          "name": "Kalshi Help Center: How to Add Your Social Security Number (dated 2026-08-25)",
          "url": "https://help.kalshi.com/en/articles/16083491-how-to-add-your-social-security-number"
        },
        {
          "name": "Kalshi Help Center: Finding Markets (dated 2026-03-10)",
          "url": "https://help.kalshi.com/en/articles/13823842-finding-markets"
        },
        {
          "name": "Kalshi FAQ (18+ minimum age in comparison table)",
          "url": "https://kalshi.com/faq"
        },
        {
          "name": "Kalshi Member Agreement (PDF, undated)",
          "url": "https://kalshi.com/docs/kalshi-member-agreement.pdf"
        },
        {
          "name": "CFTC: CFTC Designates KalshiEX LLC as a Contract Market (2020-11-04)",
          "url": "https://www.cftc.gov/PressRoom/PressReleases/8302-20"
        },
        {
          "name": "CFTC: CFTC Grants Kalshi Klear LLC DCO Registration (2024-08-29)",
          "url": "https://www.cftc.gov/PressRoom/PressReleases/8957-24"
        },
        {
          "name": "SiGMA: From launch to lawsuits, Kalshi's timeline (2025-08-19)",
          "url": "https://sigma.world/news/from-launch-to-lawsuits-kalshis-tumultous-timeline/"
        },
        {
          "name": "The Block: Coinbase prediction markets go live in all 50 US states via Kalshi (2026-01-28)",
          "url": "https://www.theblock.co/post/387416/coinbase-prediction-markets-go-live-in-all-50-us-states-via-kalshi"
        },
        {
          "name": "Cointelegraph: Webull partners with Kalshi (2025-02-12)",
          "url": "https://cointelegraph.com/news/webull-brokerage-kalshi-contracts-platform"
        },
        {
          "name": "CDC Gaming: Kalshi halts Nevada betting Saturday (2026-03-22)",
          "url": "https://cdcgaming.com/kalshi-halts-nevada-betting-saturday/"
        },
        {
          "name": "Nevada Gaming Control Board: Enforcement litigation update (2026-06-01)",
          "url": "https://www.gaming.nv.gov/contentassets/b9f7b024bdbc4c8693d3a511ea5d9841/nevada-gaming-control-board-provides-enforcement-litigation-update.pdf"
        },
        {
          "name": "Covers: Kalshi agrees to keep banned event contracts out of Nevada (2026-07-27)",
          "url": "https://www.covers.com/industry/kalshi-agrees-to-keep-banned-event-contracts-out-of-nevada-july-27-2027"
        },
        {
          "name": "Michigan AG: AG Nessel secures second order halting Kalshi sports wagers (2026-09-02)",
          "url": "https://www.michigan.gov/ag/news/press-releases/2026/09/02/ag-nessel-secures-second-order-halting-unlawful-kalshi-sports-wagers-in-michigan"
        },
        {
          "name": "Covers: Kalshi puts restrictions in place in Michigan (updated 2026-06-30)",
          "url": "https://www.covers.com/industry/michigan-kalshi-sports-betting-lawsuit-restraining-order-ban-june-2026"
        },
        {
          "name": "InGame: Kalshi Michigan geofence works only after optional app update (2026-08-14)",
          "url": "https://www.ingame.com/kalshi-geofence-optional-app-update/"
        },
        {
          "name": "Washington AG: Judge orders Kalshi to cease numerous Washington operations (2026-08-13)",
          "url": "https://www.atg.wa.gov/news/news-releases/judge-orders-kalshi-cease-numerous-washington-operations"
        },
        {
          "name": "OPB: Kalshi ordered to sharply curtail operations in Washington state (2026-08-14)",
          "url": "https://opb.org/article/2026/08/14/kalshi-ordered-sharply-curtail-operations-washington-state"
        },
        {
          "name": "Public Gaming: Kalshi shuts down sports in Washington after court order (2026-08-21)",
          "url": "https://mail.publicgaming.com/news-categories-m/legal/16292-kalshi-shuts-down-sports-in-washington-after-court-order"
        },
        {
          "name": "Bloomberg Law: Kalshi wins breathing room on Massachusetts ban during appeal (2026-02-18)",
          "url": "https://news.bloomberglaw.com/crypto/kalshi-wins-breathing-room-on-massachusetts-ban-during-appeal"
        },
        {
          "name": "Massachusetts AG: Court order that will block Kalshi sports wagers (2026-01-20)",
          "url": "https://www.mass.gov/news/ag-campbell-secures-court-order-that-will-block-kalshi-from-offering-unlawful-sports-wagers-in-massachusetts"
        },
        {
          "name": "CDC Gaming: Eight states now have authority to ban or restrict Kalshi (2026-08-11)",
          "url": "https://cdcgaming.com/brief/eight-states-now-have-authority-to-ban-or-restrict-kalshi/"
        },
        {
          "name": "CBS Sports: Status of Kalshi and Polymarket in all 50 states (2026-10-21)",
          "url": "https://www.cbssports.com/prediction/news/prediction-market-legal-states/"
        },
        {
          "name": "DeFi Rate: Sixth Circuit rules against Kalshi in Ohio and Tennessee (2026-09-25)",
          "url": "https://defirate.com/news/sixth-circuit-against-kalshi-ohio-tennessee-sports-betting/"
        }
      ],
      "unverified": [
        "Kalshi does not appear to publish its own list of US states where it, or its sports contracts, are unavailable. None was found in the help center articles opened (signup, verification, regulation, Market FAQs, trading from outside the US, taxes), the FAQ, the Member Agreement (which lists only foreign countries and is undated), or the market-integrity and family-safety pages. Several help collections show more articles than could be listed, so a state article cannot be fully ruled out. The web-search budget ran out before more searching could be done.",
        "MI, NV and WA in sports_restricted_states come from court orders plus Kalshi's notices to users as reported by the press (an email quoted for Nevada, paraphrased for Michigan and Washington), not from a Kalshi-published list. CBS Sports (2026-10-21) also says Kalshi sports contracts are not available in Michigan, Nevada and Washington.",
        "Kalshi's January 24, 2025 blog post said its sports contracts were '100% legal in all 50 states.' Later court orders make this outdated, and it is not used here as an availability statement.",
        "Massachusetts: could not confirm whether Kalshi currently offers sports contracts there. Bloomberg Law (2026-02-18) reported the injunction was stayed pending appeal; a Gambling.com headline (2026-08-25) said the ban 'stays in force'; CBS Sports (2026-10-21) said Kalshi awaits a Supreme Judicial Court ruling and listed MA sports contracts as live.",
        "Utah: CDC Gaming (2026-08-11) said Kalshi was still available. Kalshi's current Utah status was not confirmed, and CBS Sports' October 21, 2026 table entry for Utah was ambiguous.",
        "Ohio and Tennessee: the Sixth Circuit (2026-09-25) lets both states enforce their gambling laws against Kalshi. No source said Kalshi has stopped sports contracts in either state, and CBS Sports' table describes Ohio sports markets as live.",
        "Nevada: not confirmed whether Kalshi's third-party geofence was live by the August 12, 2026 deadline, or whether any contempt finding or daily fine was imposed.",
        "Minimum age: Kalshi says 18+. The Member Agreement also requires members to be 'of the age of majority in Your state of residence'; Kalshi does not name any state where that is above 18, and no state-specific exception was found.",
        "Tax: Kalshi's tax article gives no IRS dollar thresholds or issue dates. It lists 1099-B only for crypto-transfer proceeds and does not say a 1099-B is issued for event-contract trading gains.",
        "Partner apps: not verified whether Robinhood still offers Kalshi contracts after moving to its own Rothera exchange, or the current status of PrizePicks' Kalshi integration."
      ]
    },
    {
      "slug": "polymarket",
      "name": "Polymarket US",
      "aliases": [
        "Polymarket",
        "Polymarket US",
        "QCX"
      ],
      "state_pages": true,
      "kind": "exchange",
      "tagline": "Polymarket's CFTC-regulated US exchange and app, run by QCX LLC.",
      "operator": "QCX LLC d/b/a Polymarket US",
      "operator_slug": "polymarket-us",
      "how_offered": "Through the Polymarket US app (provided by QC Tech LLC d/b/a Polymarket App as an independent-software-vendor front end) connected to the QCX exchange. Its terms also allow access as a direct participant or through an FCM or introducing broker. Covers reported on May 12, 2026 that the iOS app had opened without a waitlist and that there was no Android app yet.",
      "routes_through": null,
      "launched": {
        "date": "2025-12",
        "text": "Polymarket began rolling out its US app to waitlisted users in early December 2025, starting with sports (PYMNTS, December 4, 2025). New York's governor and attorney general describe the US launch as December 2025. The waitlist was dropped for US iOS users in May 2026.",
        "source_url": "https://www.governor.ny.gov/news/governor-hochul-and-attorney-general-james-announce-lawsuit-against-polymarket-running-illegal"
      },
      "availability": {
        "summary": "Polymarket US says it is built for US residents but does not publish a list of US states where it is unavailable; its terms say it does not represent that the app is available in any specific location. A Nevada court order bars its sports, election and entertainment contracts in Nevada, and its app told users in early 2026 that trading was not allowed there.",
        "model": "unclear",
        "listed_states": [],
        "sports_restricted_states": [
          "NV"
        ],
        "per_state_notes": [
          {
            "state": "NV",
            "note": "Nevada's attorney general announced on June 3, 2026 that a state-court preliminary injunction against QCX LLC (Polymarket) bars sports-, election- and entertainment-related contracts in Nevada while the state's enforcement action continues. A written order was still to follow at the time.",
            "source_url": "https://ag.nv.gov/News/PR/2026/Attorney_General_Ford_Announces_Preliminary_Injunction_in_Prediction_Market_Case/"
          },
          {
            "state": "NV",
            "note": "After a January 2026 temporary restraining order, the Polymarket app showed Nevada users a notice that trading was not allowed in the state (reported February 2, 2026).",
            "source_url": "https://www.esports.net/casino/polymarket-forced-out-of-nevada-just-months-after-us-relaunch/"
          },
          {
            "state": "NV",
            "note": "CBS Sports reported on October 21, 2026 that the Polymarket US app operates in every state except Nevada. This is a press report, not a Polymarket statement.",
            "source_url": "https://www.cbssports.com/prediction/news/prediction-market-legal-states/"
          },
          {
            "state": "OH",
            "note": "After the Ohio Casino Control Commission ordered it to stop offering sports contracts, QCX LLC sued Ohio officials in the Southern District of Ohio on October 16, 2026 (No. 2:26-cv-01502). Polymarket says complying would mean blocking Ohio users. No source confirmed that it has stopped sports contracts in Ohio.",
            "source_url": "https://focusgn.com/polymarket-us-ohio-lawsuit-sports-contracts"
          }
        ],
        "source_url": "https://polymarket.us/tos",
        "source_name": "Polymarket App Terms & Conditions (ISV Front End), effective October 22, 2026 (embedded at polymarket.us/tos)",
        "as_of": "2026-10-22"
      },
      "min_age": {
        "age": 18,
        "exceptions": [],
        "source_url": "https://polymarket.us/tos"
      },
      "tax_reporting": null,
      "kyc": {
        "text": "Polymarket US requires date of birth, a phone number confirmed by text code, legal name, residential address and Social Security number. Most users are verified automatically; others may be asked for a government-issued ID and a selfie check. KYC must be completed before depositing or trading, and the terms require KYC, AML and sanctions screening.",
        "source_url": "https://docs.polymarket.us/learn/get-started/signup.md",
        "quote": "Provide your date of birth, phone number (we text you a code to confirm it), legal name, residential address, and Social Security number for verification."
      },
      "contract_categories": [
        "sports",
        "politics",
        "crypto",
        "economics",
        "weather",
        "tech",
        "culture"
      ],
      "regulator_note": {
        "text": "QCX LLC d/b/a Polymarket US is a CFTC-designated contract market (designated July 9, 2025). Its clearinghouse, QC Clearing LLC d/b/a Polymarket Clearing, is described in its terms as a CFTC-registered derivatives clearing organization. Polymarket announced on July 21, 2025 that it had acquired QCEX, the holding company of QCX and QC Clearing, for $112 million. In November 2025 the CFTC issued an amended order of designation allowing intermediated trading through FCMs. The separate international Polymarket (polymarket.com) is not CFTC-regulated and blocks trading in the United States. In January 2022 the CFTC ordered Blockratize, Inc. d/b/a Polymarket to pay a $1.4 million penalty for offering off-exchange event-based binary options without DCM designation or SEF registration, and to wind down non-compliant markets.",
        "source_url": "https://polymarket.us",
        "quote": "Polymarket US is operated by QCX LLC d/b/a Polymarket US, a CFTC-regulated Designated Contract Market."
      },
      "sources": [
        {
          "name": "Polymarket US homepage footer",
          "url": "https://polymarket.us"
        },
        {
          "name": "Polymarket US Terms of Use page (embeds the Polymarket App Terms & Conditions, effective 2026-10-22)",
          "url": "https://polymarket.us/tos"
        },
        {
          "name": "Polymarket App Terms & Conditions (ISV Front End), Google Doc embedded at polymarket.us/tos",
          "url": "https://docs.google.com/document/d/e/2PACX-1vQfwMiwjnr_5Q2SLjhiSQbHcVAjdAxeiGVjbRcWKE2cJKUjHs2EV4A7TXg7xIhPEUMv-FSUrgfoMN0X/pub?embedded=true"
        },
        {
          "name": "Polymarket US Docs: Create an Account",
          "url": "https://docs.polymarket.us/learn/get-started/signup.md"
        },
        {
          "name": "Polymarket US Docs: What is Polymarket US?",
          "url": "https://docs.polymarket.us/getting-started/what-is-polymarket-us.md"
        },
        {
          "name": "Polymarket US Docs: Trading Restrictions",
          "url": "https://docs.polymarket.us/learn/trading/access-and-limits/trading-restrictions"
        },
        {
          "name": "Polymarket US Rulebook (cover dated 2026-03-20; file dated 2026.04.21)",
          "url": "https://polymarketexchange.com/files/legal/Polymarket%20US%20Rulebook%20%282026.04.21%29.pdf"
        },
        {
          "name": "CFTC filing: QCX LLC d/b/a Polymarket US, Election Nomination Winner Contracts terms (under-18 accounts barred)",
          "url": "https://www.cftc.gov/filings/orgrules/rules07142610077.pdf"
        },
        {
          "name": "CFTC Industry Filings: QCX LLC d/b/a Polymarket US (DCM designated 2025-07-09)",
          "url": "https://www.cftc.gov/IndustryOversight/IndustryFilings/TradingOrganizations/49571"
        },
        {
          "name": "Mondo Visione: Polymarket acquires CFTC-licensed exchange and clearinghouse QCEX for $112 million (2025-07-21)",
          "url": "https://mondovisione.com/media-and-resources/news/polymarket-acquires-cftc-licensed-exchange-and-clearinghouse-qcex-for-112-milli-2025721/"
        },
        {
          "name": "QCX LLC d/b/a Polymarket US Amended Order of Designation (PDF hosted by DeFi Rate)",
          "url": "https://defirate.com/wp-content/uploads/2026/04/Polymarket-US-Amended-Order-of-Designation_Signed_11-24-2025.pdf"
        },
        {
          "name": "Covers: CFTC amended order gets Polymarket one step closer to US return (2025-11-25)",
          "url": "https://www.covers.com/industry/cftc-amended-order-gets-polymarket-one-step-closer-to-us-return-nov-25-2025"
        },
        {
          "name": "PYMNTS: Polymarket begins rolling out US app (2025-12-04)",
          "url": "https://www.pymnts.com/cryptocurrency/2025/prediction-market-polymarket-begins-rolling-out-us-app/"
        },
        {
          "name": "Covers: Polymarket removes waitlist, launches for US iOS users (2026-05-12)",
          "url": "https://covers.com/industry/polymarket-removes-waitlist-launches-for-american-ios-users-may-12-2026"
        },
        {
          "name": "New York Governor: Lawsuit against Polymarket (2026-09-24)",
          "url": "https://www.governor.ny.gov/news/governor-hochul-and-attorney-general-james-announce-lawsuit-against-polymarket-running-illegal"
        },
        {
          "name": "Nevada Attorney General: Preliminary injunction in prediction market case (2026-06-03)",
          "url": "https://ag.nv.gov/News/PR/2026/Attorney_General_Ford_Announces_Preliminary_Injunction_in_Prediction_Market_Case/"
        },
        {
          "name": "Nevada Gaming Control Board: Enforcement litigation update (2026-06-01)",
          "url": "https://www.gaming.nv.gov/contentassets/b9f7b024bdbc4c8693d3a511ea5d9841/nevada-gaming-control-board-provides-enforcement-litigation-update.pdf"
        },
        {
          "name": "Esports.net: Polymarket forced out of Nevada (2026-02-02)",
          "url": "https://www.esports.net/casino/polymarket-forced-out-of-nevada-just-months-after-us-relaunch/"
        },
        {
          "name": "Focus Gaming News: Polymarket US sues Ohio over cease-and-desist (2026-10-22)",
          "url": "https://focusgn.com/polymarket-us-ohio-lawsuit-sports-contracts"
        },
        {
          "name": "CBS Sports: Status of Kalshi and Polymarket in all 50 states (2026-10-21)",
          "url": "https://www.cbssports.com/prediction/news/prediction-market-legal-states/"
        },
        {
          "name": "Polymarket (international) Terms of Use page footer",
          "url": "https://polymarket.com/tos"
        },
        {
          "name": "Polymarket (international) Help Center: Geographic Restrictions (dated 2026-08-14)",
          "url": "https://help.polymarket.com/en/articles/13364163-geographic-restrictions"
        },
        {
          "name": "CFTC: CFTC Orders Event-Based Binary Options Markets Operator to Pay $1.4 Million Penalty (2022-01-03)",
          "url": "https://www.cftc.gov/PressRoom/PressReleases/8478-22"
        }
      ],
      "unverified": [
        "No Polymarket US-published list of US states where it, or its sports contracts, are unavailable was found. Pages checked: the docs index (General FAQs, Sports FAQs, Create an Account, Trading Restrictions, Changelog, Legal Notices), the App Terms & Conditions effective October 22, 2026, the Rulebook (read in truncated form), and the market-integrity page. The exchange notices page (polymarketexchange.com/notices.html) did not load. The web-search budget ran out before more searching could be done.",
        "Third-party state lists conflict, and none cites a Polymarket page. Next.io (updated 2026-10-16) says Polymarket's site shows availability except NV, AZ, IL, MD, MI, MT and OH. WSN (2026-10-19) says third-party trackers list AZ, IL, MD, MA, MI, MT and OH as states without sports contracts. Saturday Down South (2026-10-01) lists AZ, IL, MA, MD, MI, MT, NV and OH as unavailable. OddsAssist (2026-10-02) says it is available everywhere except NV. CBS Sports (2026-10-21) says operations resumed everywhere except Nevada, but its state table says Polymarket is not available in CT or TN, offers no sports in AZ, and has sports blocked in MD. CoinStats (2026-10-19) says Polymarket remains in Connecticut and lists no sports contracts in Arizona. None of these were treated as confirmed.",
        "Ohio: Polymarket's October 16, 2026 lawsuit says complying with Ohio's order would mean blocking Ohio users, which suggests it was still serving Ohio then. Current status not confirmed.",
        "Nevada: not confirmed whether Polymarket US now blocks all trading in Nevada or only the sports, election and entertainment contracts covered by the June 2026 injunction.",
        "Tax reporting: no Polymarket US page on 1099 or other tax forms was found. The App Terms say only that users are responsible for taxes on their activity, so tax_reporting is null.",
        "Minimum age: Polymarket US says 18 (App Terms; Rulebook Rule 3.1(c); a CFTC-filed contract-terms document says under-18s may not open accounts). The App Terms add 'or the higher age required in your jurisdiction', and the Rulebook requires the age of majority in the participant's state, but no state with a higher age is named. New York's September 24, 2026 lawsuit says Polymarket's markets are available to 18- to 20-year-olds.",
        "QC Clearing LLC's CFTC DCO registration date could not be confirmed from the CFTC listing page opened today. Its DCO status comes from the Polymarket US terms and rulebook.",
        "Amended order date: Covers says the CFTC issued it on Tuesday, November 25, 2025. The PDF file name says 'Signed_11-24-2025', but the document itself shows no signing date, so only 'November 2025' is stated.",
        "Not verified whether Polymarket US is now on the web or Android, or whether brokers or apps such as PrizePicks route customers to Polymarket US (rather than the international platform)."
      ]
    },
    {
      "slug": "gemini",
      "name": "Gemini Predictions",
      "aliases": [
        "Gemini",
        "Gemini Titan"
      ],
      "state_pages": false,
      "kind": "exchange",
      "tagline": "Gemini Titan, a CFTC-designated exchange run by Gemini.",
      "operator": "Gemini Titan, LLC",
      "operator_slug": "gemini-titan",
      "how_offered": "Gemini Predictions on Gemini's website and iOS app. Contracts are listed on Gemini's own CFTC-designated exchange, Gemini Titan, LLC.",
      "routes_through": null,
      "launched": {
        "date": "2025-12-15",
        "text": "Gemini Predictions went live in the US after Gemini Titan received CFTC designation as a contract market in December 2025. Finance Magnates' 2025-12-16 article says it 'went live yesterday', and Crypto Briefing dates the announcement 2025-12-15.",
        "source_url": "https://www.financemagnates.com/cryptocurrency/exchange/the-winklevoss-twins-just-launched-gemini-predictions-in-the-us/"
      },
      "availability": {
        "summary": "Gemini announced its launch in all 50 states in December 2025. Its own terms and help pages could not be read in this session. DeFi Rate's October 2026 review says it is available everywhere except eight states, and Connecticut officials said in October 2026 that Gemini had withdrawn there.",
        "model": "unclear",
        "listed_states": [],
        "sports_restricted_states": [],
        "per_state_notes": [
          {
            "state": "AZ",
            "note": "Listed as excluded by DeFi Rate (updated 2026-10-10). Not confirmed from Gemini.",
            "source_url": "https://defirate.com/prediction-markets/gemini/"
          },
          {
            "state": "IL",
            "note": "Listed as excluded by DeFi Rate (updated 2026-10-10). Not confirmed from Gemini.",
            "source_url": "https://defirate.com/prediction-markets/gemini/"
          },
          {
            "state": "MD",
            "note": "Listed as excluded by DeFi Rate (updated 2026-10-10). Not confirmed from Gemini.",
            "source_url": "https://defirate.com/prediction-markets/gemini/"
          },
          {
            "state": "MA",
            "note": "Listed as excluded by DeFi Rate (updated 2026-10-10). Not confirmed from Gemini.",
            "source_url": "https://defirate.com/prediction-markets/gemini/"
          },
          {
            "state": "MI",
            "note": "Listed as excluded by DeFi Rate (updated 2026-10-10). Not confirmed from Gemini.",
            "source_url": "https://defirate.com/prediction-markets/gemini/"
          },
          {
            "state": "MT",
            "note": "Listed as excluded by DeFi Rate (updated 2026-10-10). Not confirmed from Gemini.",
            "source_url": "https://defirate.com/prediction-markets/gemini/"
          },
          {
            "state": "NV",
            "note": "Listed as excluded by DeFi Rate (updated 2026-10-10). Not confirmed from Gemini.",
            "source_url": "https://defirate.com/prediction-markets/gemini/"
          },
          {
            "state": "OH",
            "note": "Listed as excluded by DeFi Rate (updated 2026-10-10), but the Ohio Casino Control Commission still sent Gemini Titan a cease-and-desist letter on 2026-10-02. Not confirmed from Gemini.",
            "source_url": "https://defirate.com/prediction-markets/gemini/"
          },
          {
            "state": "CT",
            "note": "After Connecticut's 2026-09-10 cease-and-desist orders, state officials said Gemini (and Webull) had withdrawn services (reported 2026-10-05). The scope and date were not given. This is a regulator statement, not a Gemini statement.",
            "source_url": "https://defirate.com/prediction-markets/legal/"
          }
        ],
        "source_url": "https://defirate.com/prediction-markets/gemini/",
        "source_name": "DeFi Rate, Gemini predictions review (updated 2026-10-10); Gemini's own pages did not render",
        "as_of": "2026-10-22"
      },
      "min_age": {
        "age": 18,
        "exceptions": [],
        "source_url": "https://defirate.com/prediction-markets/gemini/"
      },
      "tax_reporting": null,
      "kyc": {
        "text": "DeFi Rate reports that all users must complete full identity verification, uploading a government-issued ID and taking a live selfie, and must be physically located in an eligible jurisdiction, with geolocation checks at registration, deposit and trade.",
        "source_url": "https://defirate.com/prediction-markets/gemini/",
        "quote": "all users must complete a full Identity Verification process"
      },
      "contract_categories": [
        "crypto",
        "politics",
        "economics",
        "sports",
        "weather"
      ],
      "regulator_note": {
        "text": "Gemini Titan, LLC, a Gemini affiliate, is a CFTC-designated contract market and lists Gemini's prediction contracts itself. DeFi Rate names Gemini Olympus as the derivatives clearing organization; this was not confirmed on a Gemini page.",
        "source_url": "https://www.gemini.com/titan",
        "quote": "Gemini Titan, LLC is a designated contract market ('DCM')"
      },
      "sources": [
        {
          "name": "Gemini Predictions page",
          "url": "https://www.gemini.com/predictions"
        },
        {
          "name": "Gemini Titan DCM homepage",
          "url": "https://www.gemini.com/titan"
        },
        {
          "name": "Finance Magnates: The Winklevoss twins just launched Gemini Predictions in the US (2025-12-16)",
          "url": "https://www.financemagnates.com/cryptocurrency/exchange/the-winklevoss-twins-just-launched-gemini-predictions-in-the-us/"
        },
        {
          "name": "Cointelegraph: Gemini launches regulated prediction markets in 50 US states (2025-12-16)",
          "url": "https://cointelegraph.com/news/winklevoss-gemini-kicks-off-prediction-markets-in-50-us-states"
        },
        {
          "name": "Crypto Briefing: Gemini debuts predictions market in all US states (2025-12-15)",
          "url": "https://cryptobriefing.com/gemini-predictions-market-launch/"
        },
        {
          "name": "DeFi Rate: Gemini predictions review (updated 2026-10-10)",
          "url": "https://defirate.com/prediction-markets/gemini/"
        },
        {
          "name": "DeFi Rate prediction market legal tracker (captured 2026-10-22)",
          "url": "https://defirate.com/prediction-markets/legal/"
        }
      ],
      "unverified": [
        "Gemini's own state list: its help center (support.gemini.com) was blocked, and its Titan event-contract terms, rulebook and notices pages (gemini.com/titan/...) render only with JavaScript, so their text could not be read.",
        "The eight-state exclusion list rests on DeFi Rate's review alone. Dimers (2026-10-01) says 45 states, and other third-party reviews (OddsAssist, Oct 2026) still say all 50 states.",
        "Whether Gemini restricts sports contracts specifically in any state (as opposed to the whole product).",
        "Minimum age: DeFi Rate says 18+ but '21+ in select jurisdictions' without naming them. Which states require 21 was not confirmed.",
        "Tax forms Gemini issues for prediction contracts were not found.",
        "New York: the attorney general reportedly sued Gemini Titan in April 2026 (per the project's states dataset). Not re-opened today, and Gemini's New York availability is unknown.",
        "The CFTC designation date (reported as Dec. 10 or Dec. 11, 2025) and the Gemini Olympus DCO link could not be checked on cftc.gov, which was blocked in this session.",
        "Sources disagree on whether sports contracts are offered. Gemini's own Predictions page lists sports as a category, while one third-party review (Legal Sports Report, 2026-10-21) describes sports as a possible future expansion."
      ]
    },
    {
      "slug": "robinhood",
      "name": "Robinhood",
      "aliases": [
        "Robinhood"
      ],
      "state_pages": false,
      "kind": "app",
      "tagline": "A brokerage app offering event contracts through its CFTC-registered futures broker.",
      "operator": "Robinhood Derivatives, LLC",
      "operator_slug": "robinhood",
      "how_offered": "Through the prediction markets hub in the Robinhood app. Event contracts are offered by Robinhood Derivatives, LLC, a CFTC-registered futures commission merchant, and are listed on partner exchanges: Kalshi, ForecastEx and Rothera, plus OG.com's exchange since September 8, 2026.",
      "routes_through": "KalshiEX, ForecastEx and Rothera Exchange and Clearing (a Robinhood joint venture with SIG); since 2026-09-08 also OG.com's North American Derivatives Exchange, Inc.",
      "launched": {
        "date": "2024-10-28",
        "text": "Robinhood first offered event contracts on the 2024 presidential election, offered through ForecastEx and approved by Robinhood Derivatives. Its prediction markets hub with Kalshi, which included sports, opened on 2025-03-17 (Axios).",
        "source_url": "https://decrypt.co/288635/robinhood-us-presidential-election-prediction-market"
      },
      "availability": {
        "summary": "Robinhood's own state-restriction help page (robinhood.com/us/en/support/articles/event-contracts-restrictions/) could not be opened in this session, so no platform list is recorded. Third-party reviews dated October 2026 say Maryland residents can't trade event contracts at all and Nevada residents can't open new sports contracts. Robinhood agreed in a court-approved order to stop sports contracts in Michigan in September 2026.",
        "model": "unclear",
        "listed_states": [],
        "sports_restricted_states": [
          "MI",
          "NV"
        ],
        "per_state_notes": [
          {
            "state": "NV",
            "note": "Robinhood agreed to suspend sports prediction markets in Nevada effective 2025-12-01, after a federal judge denied it an injunction against the Nevada Gaming Control Board. Its Supreme Court petition on the Ninth Circuit ruling (No. 26-338) was filed 2026-09-10. Third-party reviews from October 2026 (The Lines, next.io) still describe sports contracts as unavailable in Nevada.",
            "source_url": "https://www.covers.com/industry/robinhood-to-stop-offering-sports-prediction-markets-in-nevada-nov-27-2025"
          },
          {
            "state": "MI",
            "note": "Under a court-approved agreement announced 2026-09-09, Robinhood Derivatives stopped new sports-related event contracts for Michigan customers by the end of Sept. 9, 2026 and was to close open positions by Oct. 9, 2026. The agreement covers contracts on Kalshi and Rothera (LSR) and lasts until the related Sixth Circuit appeals are resolved.",
            "source_url": "https://www.michigan.gov/mgcb/news/2026/09/09/robinhood-agrees-to-halt-contracts"
          },
          {
            "state": "MD",
            "note": "Not confirmed from Robinhood. Third-party reviews from October 2026 say Maryland residents can't trade event contracts on Robinhood at all, and CoinStats attributes this to Robinhood's help page. DeFi Rate (updated 2026-10-18) instead says only sports contracts are unavailable in MD. Maryland sent Robinhood a cease-and-desist letter in April 2025.",
            "source_url": "https://www.thelines.com/prediction-markets/robinhood/"
          },
          {
            "state": "NJ",
            "note": "In its Sept. 2026 Supreme Court petition, Robinhood says the Third Circuit ruling lets it facilitate sports contracts for Third Circuit customers (NJ, PA, DE). DeFi Rate (2026-10-18) lists NJ as having no sports contracts, which conflicts with this. Current NJ availability is not confirmed.",
            "source_url": "https://www.supremecourt.gov/DocketPDF/26/26-338/423750/20260910115039631_Robinhood%20Pet%20for%20Cert.pdf"
          },
          {
            "state": "CT",
            "note": "Connecticut's Department of Consumer Protection ordered Robinhood and eight other platforms to stop offering sports event contracts (governor's release, 2026-09-10). Robinhood's response and its current Connecticut availability are not confirmed.",
            "source_url": "https://portal.ct.gov/governor/news/press-releases/2026/09-2026/governor-lamont-announces-new-actions-against-illegal-prediction-markets-offering-sports-wagers"
          },
          {
            "state": "OH",
            "note": "Robinhood got one of the Ohio Casino Control Commission's Oct. 2, 2026 cease-and-desist letters. At the Oct. 16 deadline, News 5 Cleveland reported that most recipients were still operating and that Robinhood stressed federal oversight.",
            "source_url": "https://www.news5cleveland.com/news/politics/ohio-politics/prediction-market-platforms-ignoring-ohios-legal-threats"
          },
          {
            "state": "MO",
            "note": "Missouri's attorney general sent letters on 2026-09-16/17 to six operators, including Robinhood Derivatives, LLC, demanding they stop sports contracts or comply with state licensing, tax and age rules. Robinhood's response was not confirmed.",
            "source_url": "https://defirate.com/prediction-markets/legal/"
          }
        ],
        "source_url": "https://www.thelines.com/prediction-markets/robinhood/",
        "source_name": "The Lines, Robinhood prediction markets review (updated 2026-10-05); Robinhood's own help page could not be opened",
        "as_of": "2026-10-22"
      },
      "min_age": {
        "age": 18,
        "exceptions": [],
        "source_url": "https://www.thelines.com/prediction-markets/robinhood/"
      },
      "tax_reporting": {
        "text": "NATP, a tax-preparer association, reports that Robinhood has said it won't issue Forms 1099 for event contract trades. Robinhood instead provides an Event Contracts Annual Statement labeled 'not a substitute tax reporting form.' Robinhood's derivatives client agreement says it will provide 'certain tax documents.'",
        "source_url": "https://www.natptax.com/news-insights/blog/prediction-market-contracts-are-showing-up-on-client-returns/",
        "quote": "has stated it won't issue 1099s for event contract trades"
      },
      "kyc": {
        "text": "Opening a Robinhood Derivatives account requires identity verification under federal law. Robinhood asks for identifying information, citizenship and a US residential address, and may ask for a driver's license or passport.",
        "source_url": "https://cdn.robinhood.com/assets/robinhood/legal/rhd-futures-client-agreement.pdf",
        "quote": "federal law requires RHD to obtain, verify, and record information that identifies each person who opens an account"
      },
      "contract_categories": [
        "sports",
        "economics",
        "politics"
      ],
      "regulator_note": {
        "text": "Robinhood Derivatives, LLC, a wholly owned subsidiary of Robinhood Markets, Inc., is a CFTC-registered futures commission merchant and NFA member. It brokers event contracts listed on CFTC-designated exchanges. One of those exchanges, Rothera, is a joint venture of Robinhood and SIG that bought 90% of MIAXdx on 2026-01-20.",
        "source_url": "https://crypto.com/uk/company-news/robinhood-selects-ogcom-as-infrastructure-partner-for-prediction-markets-platform-holding-equity-stake-in-exchange-engine",
        "quote": "Prediction Markets on Robinhood are offered by Robinhood Derivatives, LLC"
      },
      "sources": [
        {
          "name": "Robinhood Derivatives, LLC v. Dreitzer, petition for certiorari (U.S. Supreme Court, 2026-09-10)",
          "url": "https://www.supremecourt.gov/DocketPDF/26/26-338/423750/20260910115039631_Robinhood%20Pet%20for%20Cert.pdf"
        },
        {
          "name": "Robinhood Event Contracts Risk Disclosure",
          "url": "https://cdn.robinhood.com/assets/robinhood/legal/Event_Contracts_Risk_Disclosure.pdf"
        },
        {
          "name": "Robinhood Derivatives Client Agreement",
          "url": "https://cdn.robinhood.com/assets/robinhood/legal/rhd-futures-client-agreement.pdf"
        },
        {
          "name": "Robinhood Markets Form 10-Q, quarter ended 2026-06-30 (SEC)",
          "url": "https://www.sec.gov/Archives/edgar/data/0001783879/000178387926000114/hood-20260630.htm"
        },
        {
          "name": "Crypto.com/OG.com release: Robinhood selects OG.com (2026-09-08)",
          "url": "https://crypto.com/uk/company-news/robinhood-selects-ogcom-as-infrastructure-partner-for-prediction-markets-platform-holding-equity-stake-in-exchange-engine"
        },
        {
          "name": "The Block: Robinhood expands prediction markets with Crypto.com, OG (2026-09-08)",
          "url": "https://www.theblock.co/news/markets/2026-09-08-robinhood-expands-prediction-markets-crypto-com-og-partnerships-nfl-season-413832"
        },
        {
          "name": "Axios: Robinhood expands prediction markets despite legal uncertainty (2026-09-08)",
          "url": "https://www.axios.com/2026/09/08/robinhood-crypto-og-kalshi-prediction-markets"
        },
        {
          "name": "Axios: Robinhood rolls out prediction markets with sports contracts (2025-03-17)",
          "url": "https://www.axios.com/2025/03/17/robinhood-prediction-markets-kalshi-sports"
        },
        {
          "name": "Decrypt: Robinhood launches US presidential election prediction market (2024-10-28)",
          "url": "https://decrypt.co/288635/robinhood-us-presidential-election-prediction-market"
        },
        {
          "name": "Covers: Robinhood to stop offering sports prediction markets in Nevada (2025-11-27)",
          "url": "https://www.covers.com/industry/robinhood-to-stop-offering-sports-prediction-markets-in-nevada-nov-27-2025"
        },
        {
          "name": "Michigan Gaming Control Board release (2026-09-09)",
          "url": "https://www.michigan.gov/mgcb/news/2026/09/09/robinhood-agrees-to-halt-contracts"
        },
        {
          "name": "Legal Sports Report: Robinhood agrees to pause sports contracts in Michigan (2026-09-08)",
          "url": "https://www.legalsportsreport.com/276268/robinhood-agrees-to-pause-sports-contracts-in-michigan/"
        },
        {
          "name": "The Lines: Robinhood prediction markets review (updated 2026-10-05)",
          "url": "https://www.thelines.com/prediction-markets/robinhood/"
        },
        {
          "name": "next.io: Robinhood prediction markets (updated 2026-10-14)",
          "url": "https://next.io/prediction-markets/robinhood/"
        },
        {
          "name": "CoinStats: Is Robinhood legal in Maryland? (updated 2026-10-19)",
          "url": "https://coinstats.app/prediction-markets/legal/robinhood-md/"
        },
        {
          "name": "DeFi Rate: Robinhood predictions app (updated 2026-10-18)",
          "url": "https://defirate.com/prediction-markets/robinhood/"
        },
        {
          "name": "NATP: Prediction market contracts are showing up on client returns",
          "url": "https://www.natptax.com/news-insights/blog/prediction-market-contracts-are-showing-up-on-client-returns/"
        },
        {
          "name": "Connecticut Governor's release on prediction-market orders (2026-09-10)",
          "url": "https://portal.ct.gov/governor/news/press-releases/2026/09-2026/governor-lamont-announces-new-actions-against-illegal-prediction-markets-offering-sports-wagers"
        },
        {
          "name": "News 5 Cleveland: Prediction market platforms ignoring Ohio's legal threats (2026-10-16)",
          "url": "https://www.news5cleveland.com/news/politics/ohio-politics/prediction-market-platforms-ignoring-ohios-legal-threats"
        },
        {
          "name": "DeFi Rate prediction market legal tracker (captured 2026-10-22)",
          "url": "https://defirate.com/prediction-markets/legal/"
        }
      ],
      "unverified": [
        "Robinhood's own help center (robinhood.com, including /us/en/support/articles/event-contracts-restrictions/ and /prediction-markets/) and its newsroom were blocked in this session, so its own state list, age rule and tax page were not read directly.",
        "Maryland: whether Robinhood excludes all event contracts or only sports contracts. Third-party sources disagree.",
        "New Jersey: whether Robinhood currently offers sports contracts. Its Supreme Court petition says it may, but DeFi Rate lists NJ as sports-restricted.",
        "Connecticut, Ohio, Missouri, Massachusetts, Washington: whether Robinhood stopped sports contracts after state orders or letters. Not confirmed.",
        "Minimum age: The Lines says 18. Robinhood's client agreement says only 'legal age in the jurisdiction in which Client resides', and whether any state requires 21 was not confirmed.",
        "Tax reporting: Robinhood's own statement that it won't issue 1099s for event contracts was not read directly. It is reported secondhand by NATP, whose page is undated.",
        "Which exchange each contract category routes to (Kalshi vs ForecastEx vs Rothera vs OG) was not confirmed.",
        "The Block reports an election hub with heat maps for 2026. Whether 2026 election contracts are offered was not confirmed. The politics category rests on the 2024 presidential election contracts."
      ]
    },
    {
      "slug": "crypto-com",
      "name": "Crypto.com",
      "aliases": [
        "Crypto.com",
        "NADEX",
        "Nadex"
      ],
      "state_pages": false,
      "kind": "app",
      "tagline": "Crypto.com's prediction and sports event trading, offered through its affiliated CFTC-registered exchange.",
      "operator": "North American Derivatives Exchange, Inc. (Nadex), d/b/a Crypto.com | Derivatives North America (CDNA)",
      "operator_slug": "crypto-com-cdna",
      "how_offered": "Prediction Trading and Sports Event Trading in the Crypto.com App, through an account with Crypto.com | Derivatives North America (CDNA). Predict Pro on the Crypto.com Exchange requires a separate Derivatives (FCM) account. CDNA also supplies contracts to partners such as Underdog, and the OG.com spin-off is routing Robinhood flow from 2026-09-08.",
      "routes_through": "Crypto.com | Derivatives North America (North American Derivatives Exchange, Inc.), an affiliated CFTC-registered exchange and clearinghouse; Crypto.com's 2026-09-08 release places this entity under the OG.com spin-off",
      "launched": {
        "date": "2024-12-23",
        "text": "Crypto.com launched its 'Sports' event trading product for US users, which it called the first-ever sports event trading product. Whether CDNA offered earlier non-sports event contracts in the app was not confirmed.",
        "source_url": "https://pymnts.com/?p=2419042"
      },
      "availability": {
        "summary": "Crypto.com says Prediction Trading and Sports Event Trading are available in the United States only. Its US terms bar access to its services in New York. It publishes no state-by-state list for prediction or sports contracts. In December 2025 a spokesperson said it was not live with sports markets in eight states.",
        "model": "unclear",
        "listed_states": [],
        "sports_restricted_states": [],
        "per_state_notes": [
          {
            "state": "NY",
            "note": "Crypto.com's US Terms (last updated 2026-02-26) bar access to its services in New York. Yogonet (2025-12-17) also reported that Crypto.com does not serve New York. This covers the Crypto.com App, not the separate OG app.",
            "source_url": "https://crypto.com/document/entity_us.pdf"
          },
          {
            "state": "AZ",
            "note": "Crypto.com pulled sports event contracts in Arizona on 2025-12-02 and its remaining prediction offerings on 2025-12-12 (Yogonet). Whether it has since returned was not confirmed.",
            "source_url": "https://www.yogonet.com/international/news/2025/12/17/116835-cryptocom-withdraws-sports-event-contracts-across-nine-us-states"
          },
          {
            "state": "NV",
            "note": "Named in the December 2025 spokesperson list of states without sports markets (SBC Americas, 2025-12-16), after Nevada won in court in October 2025. Crypto.com's exchange has a Supreme Court petition pending (No. 26-344). Current status not confirmed.",
            "source_url": "https://sbcamericas.com/2025/12/16/cryptocom-sports-contracts-shutdown/"
          },
          {
            "state": "MI",
            "note": "Named in the December 2025 spokesperson list of states without sports markets. Current status not confirmed.",
            "source_url": "https://sbcamericas.com/2025/12/16/cryptocom-sports-contracts-shutdown/"
          },
          {
            "state": "MD",
            "note": "Named in the December 2025 spokesperson list of states without sports markets. Current status not confirmed.",
            "source_url": "https://sbcamericas.com/2025/12/16/cryptocom-sports-contracts-shutdown/"
          },
          {
            "state": "MA",
            "note": "Named in the December 2025 spokesperson list of states without sports markets. Current status not confirmed.",
            "source_url": "https://sbcamericas.com/2025/12/16/cryptocom-sports-contracts-shutdown/"
          },
          {
            "state": "IL",
            "note": "Named in the December 2025 spokesperson list of states without sports markets. On 2026-10-02 a federal judge partly granted injunctions to Coinbase, the CFTC and Kalshi against Illinois. North American Derivatives Exchange, d/b/a OG, appears in the caption as an intervenor plaintiff. Current Crypto.com status not confirmed.",
            "source_url": "https://storage.courtlistener.com/recap/gov.uscourts.ilnd.498112/gov.uscourts.ilnd.498112.99.0.pdf"
          },
          {
            "state": "NJ",
            "note": "Named in the December 2025 spokesperson list of states without sports markets. Current status not confirmed.",
            "source_url": "https://sbcamericas.com/2025/12/16/cryptocom-sports-contracts-shutdown/"
          },
          {
            "state": "OH",
            "note": "Named in the December 2025 spokesperson list of states without sports markets. Current status not confirmed.",
            "source_url": "https://sbcamericas.com/2025/12/16/cryptocom-sports-contracts-shutdown/"
          },
          {
            "state": "CT",
            "note": "Crypto.com was among the nine platforms Connecticut ordered to stop offering sports event contracts (2026-09-10). Its response is not confirmed.",
            "source_url": "https://portal.ct.gov/governor/news/press-releases/2026/09-2026/governor-lamont-announces-new-actions-against-illegal-prediction-markets-offering-sports-wagers"
          },
          {
            "state": "MO",
            "note": "North American Derivatives Exchange, d/b/a OG.com Prediction Markets, sued Missouri officials in the Western District of Missouri on 2026-10-16, after the attorney general's September letters. No relief had been reported.",
            "source_url": "https://defirate.com/prediction-markets/legal/"
          }
        ],
        "source_url": "https://help.crypto.com/en/articles/11373970-prediction-trading",
        "source_name": "Crypto.com Help Center, Prediction Trading (updated 2026-09-16)",
        "as_of": "2026-10-22"
      },
      "min_age": {
        "age": 18,
        "exceptions": [],
        "source_url": "https://crypto.com/document/entity_us.pdf"
      },
      "tax_reporting": {
        "text": "Crypto.com says it may be required to issue Form 1099-B to US persons who traded contracts during the tax year, describing them as 'Regulated Futures/Options' contracts. It also issues 1099-MISC for rewards and 1099-DA for digital assets. The page doesn't specifically mention prediction or sports event contracts.",
        "source_url": "https://help.crypto.com/en/articles/5948842-1099-form-for-the-2025-tax-year",
        "quote": "Crypto.com may be required to issue to you a Form 1099-B if you are a U.S. person who traded contracts during the tax year."
      },
      "kyc": {
        "text": "In the App, trading requires opening an account with CDNA, accepting its terms and waiting for approval. For Predict Pro, the Derivatives account is open only to US residents who have completed identity verification. Activation asks for a US residential address and SSN.",
        "source_url": "https://help.crypto.com/en/articles/17694920-onboarding",
        "quote": "The Derivatives account is available to US residents who have completed identity verification on the Exchange."
      },
      "contract_categories": [
        "sports",
        "politics",
        "financials",
        "economics",
        "culture"
      ],
      "regulator_note": {
        "text": "Crypto.com says CDNA is registered with the CFTC as a designated contract market and a derivatives clearing organization, and that it offers the contracts directly in the App. Predict Pro on the Crypto.com Exchange is available only to US users with a futures commission merchant (FCM) account; the FCM was not named.",
        "source_url": "https://www.businesswire.com/news/home/20250902697076/en",
        "quote": "registered with the Commodity Futures Trading Commission (CFTC) as a designated contract market"
      },
      "sources": [
        {
          "name": "Crypto.com Help Center: Prediction Trading (updated 2026-09-16)",
          "url": "https://help.crypto.com/en/articles/11373970-prediction-trading"
        },
        {
          "name": "Crypto.com Help Center: Sports Event Trading",
          "url": "https://help.crypto.com/en/articles/10208780-sports-event-trading"
        },
        {
          "name": "Crypto.com Help Center: Predict Pro Overview",
          "url": "https://help.crypto.com/en/articles/17213297-overview"
        },
        {
          "name": "Crypto.com Help Center: Onboarding (Derivatives account)",
          "url": "https://help.crypto.com/en/articles/17694920-onboarding"
        },
        {
          "name": "Crypto.com Help Center: 1099 Form for the 2025 Tax Year (updated 2026-02-19)",
          "url": "https://help.crypto.com/en/articles/5948842-1099-form-for-the-2025-tax-year"
        },
        {
          "name": "Crypto.com US Terms of Use (last updated 2026-02-26)",
          "url": "https://crypto.com/document/entity_us.pdf"
        },
        {
          "name": "Crypto.com US Prediction page",
          "url": "https://crypto.com/us/prediction"
        },
        {
          "name": "Crypto.com US: What are prediction markets",
          "url": "https://crypto.com/us/prediction/learn/what-are-prediction-markets"
        },
        {
          "name": "Business Wire: Underdog and Crypto.com | Derivatives North America (2025-09-02)",
          "url": "https://www.businesswire.com/news/home/20250902697076/en"
        },
        {
          "name": "PYMNTS: Crypto.com debuts sports event trading product (2024-12-23)",
          "url": "https://pymnts.com/?p=2419042"
        },
        {
          "name": "The Block: Crypto.com launches sports prediction market in the US (2024-12-23)",
          "url": "https://www.theblock.co/post/332211/crypto-com-launches-polymarket-style-sports-prediction-market-in-the-us"
        },
        {
          "name": "SBC Americas: Crypto.com pulls sports contracts in several states (2025-12-16)",
          "url": "https://sbcamericas.com/2025/12/16/cryptocom-sports-contracts-shutdown/"
        },
        {
          "name": "Yogonet: Crypto.com withdraws sports event contracts across nine US states (2025-12-17)",
          "url": "https://www.yogonet.com/international/news/2025/12/17/116835-cryptocom-withdraws-sports-event-contracts-across-nine-us-states"
        },
        {
          "name": "The Block: Crypto.com spins out OG prediction markets app (2026-02-03)",
          "url": "https://www.theblock.co/post/388292/crypto-com-og-prediction-markets-app-monthly-volumes-17-billion-super-bowl"
        },
        {
          "name": "Crypto.com/OG.com release: Robinhood selects OG.com (2026-09-08)",
          "url": "https://crypto.com/uk/company-news/robinhood-selects-ogcom-as-infrastructure-partner-for-prediction-markets-platform-holding-equity-stake-in-exchange-engine"
        },
        {
          "name": "Coinbase Financial Markets v. Raoul, Memorandum Opinion and Order (N.D. Ill., 2026-10-02)",
          "url": "https://storage.courtlistener.com/recap/gov.uscourts.ilnd.498112/gov.uscourts.ilnd.498112.99.0.pdf"
        },
        {
          "name": "Connecticut Governor's release (2026-09-10)",
          "url": "https://portal.ct.gov/governor/news/press-releases/2026/09-2026/governor-lamont-announces-new-actions-against-illegal-prediction-markets-offering-sports-wagers"
        },
        {
          "name": "DeFi Rate prediction market legal tracker (captured 2026-10-22)",
          "url": "https://defirate.com/prediction-markets/legal/"
        }
      ],
      "unverified": [
        "Crypto.com's help center publishes no state list for Prediction or Sports Event Trading, beyond saying US only. Its US terms exclude New York for all services.",
        "Whether the December 2025 list of eight states without sports markets (AZ, MI, MD, MA, IL, NJ, NV, OH) is still accurate in October 2026. No later statement from Crypto.com was found.",
        "Whether Crypto.com returned to Arizona after the district-court injunction now under Ninth Circuit appeal (No. 26-4281).",
        "Whether the Crypto.com App's contracts still come from the same entity after the OG.com spin-off. The help center (2026-09-16) still names CDNA, while Crypto.com's 2026-09-08 release places North American Derivatives Exchange, Inc. under OG.com.",
        "The name of the FCM behind Predict Pro accounts. The 2026-09-08 release mentions an 'OG Broker' FCM without a legal name.",
        "Whether the Form 1099-B Crypto.com describes covers prediction and sports event contracts. The help article does not say.",
        "Minimum age comes from Crypto.com's general US terms. No prediction-specific age rule or state exceptions (e.g. 21+) were found.",
        "CFTC registration pages (cftc.gov) were blocked in this session, so CDNA's DCM/DCO status rests on Crypto.com's own statements."
      ]
    },
    {
      "slug": "coinbase",
      "name": "Coinbase",
      "aliases": [
        "Coinbase"
      ],
      "state_pages": false,
      "kind": "app",
      "tagline": "Coinbase's prediction markets, offered through its futures broker on Kalshi's exchange.",
      "operator": "Coinbase Financial Markets, Inc.",
      "operator_slug": "coinbase",
      "how_offered": "Prediction markets inside the Coinbase app. Customers place event-contract orders through their Coinbase accounts via Coinbase Financial Markets, a CFTC-registered FCM. The contracts are listed on Kalshi, and Coinbase said all of Kalshi's markets are accessible.",
      "routes_through": "Kalshi",
      "launched": {
        "date": "2026-01-28",
        "text": "Coinbase announced Kalshi-powered event contracts on 2025-12-17 and first opened them to a subset of US users. It rolled them out to users in all 50 states on 2026-01-28.",
        "source_url": "https://decrypt.co/356236/coinbase-rolls-out-kalshi-powered-prediction-markets-across-united-states"
      },
      "availability": {
        "summary": "Coinbase launched in all 50 states in January 2026. Its own help center could not be opened. Third-party reviews from September and October 2026 say Coinbase now excludes Nevada after a state-court injunction. Coinbase agreed to stop sports contracts in Michigan as of 2026-10-10.",
        "model": "unclear",
        "listed_states": [],
        "sports_restricted_states": [
          "MI"
        ],
        "per_state_notes": [
          {
            "state": "NV",
            "note": "A Nevada state court granted the Gaming Control Board a preliminary injunction against Coinbase on 2026-03-26, barring event contracts in Nevada. DeFi Rate (2026-10-21) and NEXTPredict (2026-09-30) say Coinbase excludes Nevada, and NEXTPredict says Coinbase's help center lists Nevada as excluded.",
            "source_url": "https://www.covers.com/industry/court-grants-nevada-preliminary-injunction-against-coinbase-march-28-2026"
          },
          {
            "state": "MI",
            "note": "Coinbase Financial Markets agreed with the Michigan Gaming Control Board to stop new sports-related event contracts for Michigan customers and close open positions by 12:00 a.m. ET on 2026-10-10. The halt covers contracts on KalshiEX and other DCMs and lasts while the Sixth Circuit appeals proceed.",
            "source_url": "https://www.michigan.gov/mgcb/news/2026/10/07/coinbase-agrees-to-halt-sports-related-event-contracts-in-michigan"
          },
          {
            "state": "IL",
            "note": "On 2026-10-02 the Northern District of Illinois partly granted Coinbase's preliminary-injunction motion (with the CFTC's and Kalshi's), finding Illinois's licensing provisions likely preempted. The fee issue was held over for more briefing.",
            "source_url": "https://storage.courtlistener.com/recap/gov.uscourts.ilnd.498112/gov.uscourts.ilnd.498112.99.0.pdf"
          },
          {
            "state": "CT",
            "note": "Coinbase was among the nine platforms Connecticut ordered to stop offering sports event contracts (2026-09-10). DeFi Rate (2026-10-21) says Coinbase's response and current Connecticut availability are not confirmed.",
            "source_url": "https://portal.ct.gov/governor/news/press-releases/2026/09-2026/governor-lamont-announces-new-actions-against-illegal-prediction-markets-offering-sports-wagers"
          },
          {
            "state": "OH",
            "note": "Coinbase got one of the Ohio Casino Control Commission's Oct. 2, 2026 letters. News 5 Cleveland reported no response from Coinbase at the Oct. 16 deadline.",
            "source_url": "https://www.news5cleveland.com/news/politics/ohio-politics/prediction-market-platforms-ignoring-ohios-legal-threats"
          }
        ],
        "source_url": "https://defirate.com/prediction-markets/coinbase/",
        "source_name": "DeFi Rate, Coinbase predictions review (updated 2026-10-21); Coinbase's own help center could not be opened",
        "as_of": "2026-10-22"
      },
      "min_age": {
        "age": 18,
        "exceptions": [],
        "source_url": "https://defirate.com/prediction-markets/coinbase/"
      },
      "tax_reporting": null,
      "kyc": {
        "text": "DeFi Rate reports that trading requires a Coinbase account plus a separate Coinbase Financial Markets onboarding step. In that step Coinbase reviews age, trading experience, occupation, income and net worth, and it can reject an application.",
        "source_url": "https://defirate.com/prediction-markets/coinbase/",
        "quote": "Coinbase account plus a separate CFM onboarding step"
      },
      "contract_categories": [
        "sports",
        "crypto",
        "economics",
        "politics",
        "entertainment"
      ],
      "regulator_note": {
        "text": "Coinbase Financial Markets, Inc. is a CFTC-registered futures commission merchant and NFA member, acting as intermediary for event contracts listed on Kalshi, a CFTC-designated contract market. Separate Coinbase affiliates hold a DCM (Coinbase Derivatives) and, since September 2026, a DCO (Coinbase Clearing), per the project's operators dataset (not re-verified today).",
        "source_url": "https://storage.courtlistener.com/recap/gov.uscourts.ilnd.491785/gov.uscourts.ilnd.491785.1.0.pdf",
        "quote": "registered with the CFTC and National Futures Association as a Futures Commission Merchant since August 16, 2023."
      },
      "sources": [
        {
          "name": "Coinbase prediction markets page",
          "url": "https://www.coinbase.com/prediction-markets"
        },
        {
          "name": "Coinbase Financial Markets, Inc. v. Raoul, complaint (N.D. Ill., filed 2025-12-18)",
          "url": "https://storage.courtlistener.com/recap/gov.uscourts.ilnd.491785/gov.uscourts.ilnd.491785.1.0.pdf"
        },
        {
          "name": "Coinbase Financial Markets v. Raoul, Memorandum Opinion and Order (N.D. Ill., 2026-10-02)",
          "url": "https://storage.courtlistener.com/recap/gov.uscourts.ilnd.498112/gov.uscourts.ilnd.498112.99.0.pdf"
        },
        {
          "name": "Decrypt: Coinbase rolls out Kalshi-powered prediction markets (2026-01-28)",
          "url": "https://decrypt.co/356236/coinbase-rolls-out-kalshi-powered-prediction-markets-across-united-states"
        },
        {
          "name": "The Block: Coinbase prediction markets go live in all 50 US states via Kalshi (2026-01-28)",
          "url": "https://www.theblock.co/post/387416/coinbase-prediction-markets-go-live-in-all-50-us-states-via-kalshi"
        },
        {
          "name": "Michigan Gaming Control Board release (2026-10-07)",
          "url": "https://www.michigan.gov/mgcb/news/2026/10/07/coinbase-agrees-to-halt-sports-related-event-contracts-in-michigan"
        },
        {
          "name": "Covers: Court grants Nevada's preliminary injunction against Coinbase (2026-03-28)",
          "url": "https://www.covers.com/industry/court-grants-nevada-preliminary-injunction-against-coinbase-march-28-2026"
        },
        {
          "name": "NEXTPredict: Coinbase prediction market review (2026-09-30)",
          "url": "https://nextpredict.io/platforms/coinbase/"
        },
        {
          "name": "DeFi Rate: Coinbase predictions review (updated 2026-10-21)",
          "url": "https://defirate.com/prediction-markets/coinbase/"
        },
        {
          "name": "Connecticut Governor's release (2026-09-10)",
          "url": "https://portal.ct.gov/governor/news/press-releases/2026/09-2026/governor-lamont-announces-new-actions-against-illegal-prediction-markets-offering-sports-wagers"
        },
        {
          "name": "News 5 Cleveland (2026-10-16)",
          "url": "https://www.news5cleveland.com/news/politics/ohio-politics/prediction-market-platforms-ignoring-ohios-legal-threats"
        }
      ],
      "unverified": [
        "Coinbase's help center (help.coinbase.com, including /coinbase/prediction-markets/buy-sell, /trading-and-funding/prediction-markets/intro and /apply) was blocked in this session, so its own state list, age rule, KYC steps and tax documents were not read directly.",
        "Nevada exclusion rests on third-party reviews describing Coinbase's help center, plus the reported March 2026 state-court injunction. The help page itself was not opened.",
        "Tax reporting: DeFi Rate says CFM issues Form 1099-B for futures activity but that prediction-specific reporting is 'not yet documented'. No Coinbase statement on event-contract tax forms was found.",
        "Whether Coinbase stopped sports contracts in Connecticut or Ohio after the September/October 2026 orders.",
        "New York: the attorney general reportedly sued Coinbase Financial Markets in April 2026 (per the project's states dataset). Not re-opened today, and Coinbase's New York availability is unknown.",
        "Whether Coinbase routes to any DCM besides Kalshi. Michigan's release refers to contracts on 'KalshiEX and other designated contract markets'.",
        "Minimum age (18) comes from DeFi Rate and NEXTPredict, not a Coinbase page."
      ]
    },
    {
      "slug": "webull",
      "name": "Webull",
      "aliases": [
        "Webull"
      ],
      "state_pages": false,
      "kind": "app",
      "tagline": "A brokerage app offering Kalshi event contracts through Webull Futures.",
      "operator": "Webull Futures LLC",
      "operator_slug": "webull",
      "how_offered": "Prediction markets ('Events') inside the Webull app. Existing users activate an Events account from their profile. Webull's January 2026 release says it offers sports and other event contracts through its partnership with Kalshi.",
      "routes_through": "Kalshi",
      "launched": null,
      "availability": {
        "summary": "Webull's prediction-markets page has an FAQ titled 'What states have Event Contract restrictions?', but its answer did not render, and no state list was found elsewhere on Webull's pages. Webull says availability may vary by jurisdiction. Connecticut officials reported in October 2026 that Webull withdrew after the state's orders.",
        "model": "unclear",
        "listed_states": [],
        "sports_restricted_states": [],
        "per_state_notes": [
          {
            "state": "CT",
            "note": "After Connecticut's 2026-09-10 cease-and-desist orders, state officials said Webull (and Gemini) had withdrawn services (reported 2026-10-05 and published 2026-10-06). DeFi Rate notes the exact date and scope were not given. This is a regulator statement, not a Webull statement.",
            "source_url": "https://defirate.com/prediction-markets/legal/"
          },
          {
            "state": "OH",
            "note": "Webull got one of the Ohio Casino Control Commission's Oct. 2, 2026 cease-and-desist letters. News 5 Cleveland listed 'WeBull Financial' among the firms contacted and reported no response at the Oct. 16 deadline.",
            "source_url": "https://www.news5cleveland.com/news/politics/ohio-politics/prediction-market-platforms-ignoring-ohios-legal-threats"
          }
        ],
        "source_url": "https://www.prnewswire.com/news-releases/webull-introduces-0-commission-trading-on-pro-football-big-game-prediction-markets-302670228.html",
        "source_name": "Webull Financial LLC press release (PR Newswire, 2026-01-27)",
        "as_of": "2026-10-22"
      },
      "min_age": null,
      "tax_reporting": null,
      "kyc": null,
      "contract_categories": [
        "sports",
        "crypto",
        "financials",
        "economics",
        "culture",
        "climate",
        "science-tech"
      ],
      "regulator_note": {
        "text": "Webull's prediction-markets page says Webull Futures LLC is a CFTC-registered futures commission merchant and NFA member, and that event contract accounts are not SIPC-protected. Webull's 2025 and 2026 releases name Kalshi, a CFTC-regulated exchange, as the source of the contracts. Those releases were issued by Webull Financial LLC, which describes itself as an SEC broker-dealer and CFTC-registered FCM.",
        "source_url": "https://www.webull.com/prediction-markets",
        "quote": "Webull Futures LLC is a CFTC-registered FCM and NFA member. Event contract accounts are not protected by SIPC."
      },
      "sources": [
        {
          "name": "Webull prediction markets page",
          "url": "https://www.webull.com/prediction-markets"
        },
        {
          "name": "PR Newswire: Webull connects to Kalshi (2025-02-12)",
          "url": "https://www.prnewswire.com/news-releases/webull-connects-to-kalshi-to-offer-investors-innovative-prediction-markets-302373541.html"
        },
        {
          "name": "PR Newswire: Webull release on pro football big game prediction markets (2026-01-27)",
          "url": "https://www.prnewswire.com/news-releases/webull-introduces-0-commission-trading-on-pro-football-big-game-prediction-markets-302670228.html"
        },
        {
          "name": "FX News Group: Webull adds event contracts trading (2025-02-13)",
          "url": "https://fxnewsgroup.com/forex-news/retail-forex/webull-adds-event-contracts-trading/"
        },
        {
          "name": "Webull Help: Tax Document Availability",
          "url": "https://www.webull.com/help/faq/10989-Tax-Document-Availability"
        },
        {
          "name": "DeFi Rate prediction market legal tracker (captured 2026-10-22)",
          "url": "https://defirate.com/prediction-markets/legal/"
        },
        {
          "name": "News 5 Cleveland (2026-10-16)",
          "url": "https://www.news5cleveland.com/news/politics/ohio-politics/prediction-market-platforms-ignoring-ohios-legal-threats"
        }
      ],
      "unverified": [
        "Webull's own state-restriction list: the FAQ answer on its prediction-markets page did not render, and no help-center article on event contracts was found.",
        "Launch date: Webull announced its Kalshi partnership on 2025-02-12, with rollout 'expected in the coming weeks'. The go-live date was not confirmed. Sports contracts were added in Q3 2025, per Webull's Q3 2025 earnings call as published by MLQ.ai.",
        "Whether Webull still routes only to Kalshi. Its current prediction-markets page names no exchange.",
        "Which Webull entity holds event-contract accounts: the current page names Webull Futures LLC, while the 2025/2026 releases came from Webull Financial LLC. Both describe FCM registration.",
        "Minimum age, identity-verification steps and tax forms for event contracts: Webull's tax help pages describe a consolidated 1099 for brokerage accounts but don't mention event contracts.",
        "Whether Webull stopped sports contracts in Ohio after the October 2026 letter. The Connecticut withdrawal comes from state officials, as reported by DeFi Rate, not from Webull."
      ]
    },
    {
      "slug": "draftkings-predictions",
      "name": "DraftKings Predictions",
      "aliases": [
        "DraftKings Predictions",
        "DraftKings"
      ],
      "state_pages": false,
      "kind": "app",
      "tagline": "DraftKings' prediction-market app, separate from its sportsbook.",
      "operator": "GUS III LLC d/b/a DraftKings Predictions (wholly owned DraftKings subsidiary)",
      "operator_slug": "draftkings-predictions",
      "how_offered": "Offered by DraftKings' subsidiary GUS III LLC (d/b/a DraftKings Predictions), first as a standalone app and, since June 2026, inside the unified DraftKings: Sports & Casino app. Since June 2026 it runs on DKeX, DraftKings' own exchange built on its acquisition of Railbird Exchange, LLC; at launch it used CME Group, and later also Crypto.com.",
      "routes_through": null,
      "launched": {
        "date": "2025-12-19",
        "text": "DraftKings' 10-K says DraftKings Predictions launched on December 19, 2025. Its launch release said event contracts would be available across 38 states, starting with CME Group as the exchange.",
        "source_url": "https://www.sec.gov/Archives/edgar/data/1883685/000188368526000013/dkng-20251231.htm"
      },
      "availability": {
        "summary": "Reported as available in every state and DC except Maine and New Hampshire. DraftKings' June 2026 release says sports event contracts are offered in 18 states. Its availability page, as reproduced by DeFi Rate, splits states into four groups: all markets, financial markets only, sports markets unavailable, and no markets.",
        "model": "all_states_except",
        "listed_states": [
          "ME",
          "NH"
        ],
        "sports_restricted_states": [
          "AR",
          "AZ",
          "CO",
          "CT",
          "IA",
          "IL",
          "IN",
          "KS",
          "KY",
          "LA",
          "MA",
          "MD",
          "MI",
          "MO",
          "MS",
          "MT",
          "NC",
          "NJ",
          "NV",
          "NY",
          "OH",
          "OR",
          "PA",
          "TN",
          "VA",
          "VT",
          "WA",
          "WI",
          "WV",
          "WY"
        ],
        "per_state_notes": [
          {
            "state": "NV",
            "note": "DeFi Rate, checking DraftKings' availability page on 2026-09-09, lists Nevada as 'Financial markets only'. Legal Sports Report's comparison page (updated 2026-10-14) instead calls Nevada an exception. The two conflict, and DraftKings' own page could not be opened.",
            "source_url": "https://defirate.com/prediction-markets/draftkings/"
          },
          {
            "state": "NV",
            "note": "Legal Sports Report says Nevada is excluded from DraftKings Predictions.",
            "source_url": "https://www.legalsportsreport.com/prediction-markets/draftkings-predictions-vs-fanduel-predicts/"
          },
          {
            "state": "CA",
            "note": "One of the 18 states plus DC where DeFi Rate lists all markets, sports included, as available. The others are AK, AL, DE, FL, GA, HI, ID, MN, ND, NE, NM, OK, RI, SC, SD, TX and UT.",
            "source_url": "https://defirate.com/prediction-markets/draftkings/"
          },
          {
            "state": "NY",
            "note": "Listed with CO, IL, IN, KS, KY, MA, MD, MO, MS, NC, NJ, OR, VA, VT, WI, WV, WY and Puerto Rico as 'Sports markets unavailable'. The page does not say which other categories are offered there.",
            "source_url": "https://defirate.com/prediction-markets/draftkings/"
          },
          {
            "state": "ME",
            "note": "No DraftKings Predictions markets are available. New Hampshire is the same.",
            "source_url": "https://defirate.com/prediction-markets/states/"
          }
        ],
        "source_url": "https://defirate.com/prediction-markets/states/",
        "source_name": "DeFi Rate: Prediction markets by state (availability verified Oct 10, 2026; based on each app's own terms)",
        "as_of": "2026-10-22"
      },
      "min_age": {
        "age": 18,
        "exceptions": [],
        "source_url": "https://defirate.com/prediction-markets/draftkings/"
      },
      "tax_reporting": null,
      "kyc": {
        "text": "DeFi Rate says every new customer must complete identity verification and an eligibility process before trading. Users confirm identity and location and may answer questions about financial background and trading experience.",
        "source_url": "https://defirate.com/prediction-markets/draftkings/",
        "quote": "Every new customer is required to complete identity verification and an eligibility process before trading."
      },
      "contract_categories": [
        "sports",
        "finance",
        "crypto",
        "commodities",
        "culture"
      ],
      "regulator_note": {
        "text": "GUS III LLC d/b/a DraftKings Predictions describes itself as a CFTC-registered introducing broker and NFA member, and DraftKings' 10-K says the same. DKeX uses the CFTC license from Railbird Exchange, LLC, which the CFTC lists as a designated contract market (designated 2025-06-13). Some disclaimers reproduced by Legal Sports Report and DeFi Rate instead call DraftKings Predictions a 'Futures Commission Merchant'. This conflict is unresolved.",
        "source_url": "https://apps.apple.com/us/app/-/id6747457568",
        "quote": "GUS III LLC d/b/a DraftKings Predictions is a CFTC-registered Introducing Broker and NFA member."
      },
      "sources": [
        {
          "name": "App Store: DraftKings Predictions listing (seller DraftKings LLC)",
          "url": "https://apps.apple.com/us/app/-/id6747457568"
        },
        {
          "name": "DraftKings Inc. Form 10-K for FY2025 (SEC)",
          "url": "https://www.sec.gov/Archives/edgar/data/1883685/000188368526000013/dkng-20251231.htm"
        },
        {
          "name": "DraftKings release via Business Wire: DraftKings Launches Proprietary Exchange (DKeX), June 2026",
          "url": "https://www.businesswire.com/news/home/20260624009284/en/DraftKings-Launches-Proprietary-Exchange-to-Bolster-Differentiated-Predictions-Experience"
        },
        {
          "name": "DraftKings release via GlobeNewswire: DraftKings Debuts Predictions App (2025-12-19)",
          "url": "https://markets.financialcontent.com/concordmonitor/article/gnwcq-2025-12-19-draftkings-debuts-predictions-app-entering-prediction-markets"
        },
        {
          "name": "DeFi Rate: Prediction markets by state",
          "url": "https://defirate.com/prediction-markets/states/"
        },
        {
          "name": "DeFi Rate: DraftKings Predictions page (updated Oct 10, 2026)",
          "url": "https://defirate.com/prediction-markets/draftkings/"
        },
        {
          "name": "DeFi Rate: DraftKings announces DKeX launch (2026-06-26)",
          "url": "https://defirate.com/news/draftkings-announces-dkex-launch/"
        },
        {
          "name": "SBC Americas: DraftKings launches in-house exchange DKeX (2026-06-26)",
          "url": "https://sbcamericas.com/2026/06/26/draftkings-predictions-dkex-railbird/"
        },
        {
          "name": "Legal Sports Report: DraftKings Predictions vs. FanDuel Predicts (updated 2026-10-14)",
          "url": "https://www.legalsportsreport.com/prediction-markets/draftkings-predictions-vs-fanduel-predicts/"
        },
        {
          "name": "Legal Sports Report: DraftKings Predictions live in 38 states (2025-12-19)",
          "url": "https://www.legalsportsreport.com/249645/draftkings-predictions-live-in-38-states/"
        },
        {
          "name": "CFTC: Designated Contract Markets list (Railbird Exchange, LLC)",
          "url": "https://www.cftc.gov/IndustryOversight/IndustryFilings/TradingOrganizations"
        }
      ],
      "unverified": [
        "DraftKings' own availability and help pages (predictions.draftkings.com/how-to-trade-predict and help.draftkings.com) could not be opened in this session because the fetch permission was not granted. The state groupings come from DeFi Rate, which says it checked them against DraftKings' availability page on 2026-09-09.",
        "Nevada is in conflict: DeFi Rate lists it as financial-markets-only, while Legal Sports Report says it is excluded.",
        "Which states have the 21+ minimum age DeFi Rate mentions ('21+ in some states') was not found. 18 is DeFi Rate's figure, and the App Store's 18+ is a content rating, not an eligibility rule.",
        "No DraftKings statement on tax forms (e.g. 1099-B) for Predictions was found.",
        "Not confirmed whether any markets still come from CME Group or Crypto.com after the June 2026 move to DKeX, or which clearinghouse clears DKeX trades (Bitnomial was reported in May 2026 but not checked today).",
        "Introducing broker versus FCM: DraftKings' App Store listing and 10-K say introducing broker, while some reproduced disclaimers say FCM. Whether GUS III's FCM application has been approved was not verified.",
        "The legal-entity suffix differs: the December 2025 launch release says 'GUS III Inc.', while later DraftKings sources say 'GUS III LLC'.",
        "No DraftKings statement was found that says, in its own words, that sports contracts are withheld because DraftKings holds a sportsbook licence in a state. Press describes sports coverage as concentrated where DraftKings Sportsbook isn't offered, and Legal Sports Report described the December 2025 launch as bringing sports contracts to key states without legal sports betting."
      ]
    },
    {
      "slug": "fanduel-predicts",
      "name": "FanDuel Predicts",
      "aliases": [
        "FanDuel Predicts",
        "FanDuel"
      ],
      "state_pages": false,
      "kind": "app",
      "tagline": "FanDuel's prediction-market app. FanDuel says it offers sports contracts only where it doesn't run a sportsbook.",
      "operator": "FanDuel Prediction Markets LLC (joint venture of FanDuel Group and CME Group)",
      "operator_slug": "fanduel-predicts",
      "how_offered": "Offered inside the FanDuel app, where the app shows the Sportsbook or Predicts experience based on the user's location. Accounts are opened with FanDuel Prediction Markets LLC, a registered FCM. FanDuel says contracts are listed by CME Group and Crypto.com derivatives exchanges.",
      "routes_through": "CME Group (financial contracts) and Crypto.com | Derivatives North America / OG (sports, entertainment and combination contracts)",
      "launched": {
        "date": "2025-12-22",
        "text": "FanDuel and CME Group launched FanDuel Predicts on December 22, 2025 in Alabama, Alaska, South Carolina, North Dakota and South Dakota, with a phased national rollout to follow.",
        "source_url": "https://www.barchart.com/story/news/36746695/fanduel-and-cme-group-launch-fanduel-predicts-to-give-customers-the-power-to-trade-on-tomorrow-s-headlines"
      },
      "availability": {
        "summary": "FanDuel says Predicts is available in all 50 states for financial contracts. Sports and entertainment contracts are only offered where FanDuel does not offer sports betting. Its map lists 26 states as 'FanDuel Predicts' states and 24 states plus DC (and Puerto Rico) as 'FanDuel Sportsbook' states, and says that in Sportsbook states, sports are covered by the sportsbook. The December 2025 launch release also excluded tribal lands from sports contracts.",
        "model": "all_states_except",
        "listed_states": [],
        "sports_restricted_states": [
          "AR",
          "AZ",
          "CO",
          "CT",
          "DC",
          "IA",
          "IL",
          "IN",
          "KS",
          "KY",
          "LA",
          "MA",
          "MD",
          "MI",
          "MO",
          "NC",
          "NJ",
          "NY",
          "OH",
          "PA",
          "TN",
          "VA",
          "VT",
          "WV",
          "WY"
        ],
        "per_state_notes": [
          {
            "state": "NY",
            "note": "FanDuel's map lists New York, like the other 23 states plus DC (and Puerto Rico) in sports_restricted_states, as a 'FanDuel Sportsbook' state. FanDuel says sports are covered by the sportsbook in those states.",
            "source_url": "https://www.fanduel.com/legal-sports-betting-us-map"
          },
          {
            "state": "NV",
            "note": "FanDuel's map lists Nevada as a 'FanDuel Predicts' state. Whether sports contracts are offered there was not confirmed: the 18 sports states Yogonet listed in January 2026 (AL, AK, CA, DE, FL, GA, HI, ID, MN, NE, NM, ND, OK, RI, SC, SD, TX, UT) do not include Nevada.",
            "source_url": "https://www.fanduel.com/legal-sports-betting-us-map"
          }
        ],
        "source_url": "https://fanduel.com/about/news/fanduel-predicts-to-expand-event-contract-offering-through-partnership-with-crypto-com-and-og-prediction-markets",
        "source_name": "FanDuel press release: FanDuel Predicts to expand event contract offering through partnership with Crypto.com and OG (2026-06-09)",
        "as_of": "2026-10-22"
      },
      "min_age": {
        "age": 18,
        "exceptions": [],
        "source_url": "https://www.fanduel.com/predicts"
      },
      "tax_reporting": null,
      "kyc": {
        "text": "Sign-up uses FanDuel's Know Your Customer process. It asks for birth date, Social Security number, home address, banking information and a government-issued ID, plus CFTC-required questions about financial condition and trading experience.",
        "source_url": "https://www.barchart.com/story/news/36746695/fanduel-and-cme-group-launch-fanduel-predicts-to-give-customers-the-power-to-trade-on-tomorrow-s-headlines",
        "quote": "will integrate FanDuel's \"Know Your Customer\" sign-up process, requiring customers to submit their birth date"
      },
      "contract_categories": [
        "sports",
        "finance",
        "economics",
        "commodities",
        "crypto",
        "entertainment"
      ],
      "regulator_note": {
        "text": "Accounts are carried by FanDuel Prediction Markets LLC, a CFTC-registered futures commission merchant and NFA member, and contracts are listed on CFTC-regulated exchanges (CME Group and Crypto.com). Flutter said in August 2026 that sports and novelty contracts would move to Crypto.com, with financial contracts staying with CME. In October 2026, Casino.org reported that FanDuel separately obtained an FCM licence from the NFA without CME.",
        "source_url": "https://fanduel.com/about/news/fanduel-predicts-to-expand-event-contract-offering-through-partnership-with-crypto-com-and-og-prediction-markets",
        "quote": "The contracts offered on FanDuel Predicts are listed by CME Group and Crypto.com derivatives exchanges"
      },
      "sources": [
        {
          "name": "FanDuel: Where Is FanDuel Legal (Sportsbook and Prediction Market Availability)",
          "url": "https://www.fanduel.com/legal-sports-betting-us-map"
        },
        {
          "name": "FanDuel: FanDuel Predicts page",
          "url": "https://www.fanduel.com/predicts"
        },
        {
          "name": "FanDuel press release: partnership with Crypto.com and OG (2026-06-09)",
          "url": "https://fanduel.com/about/news/fanduel-predicts-to-expand-event-contract-offering-through-partnership-with-crypto-com-and-og-prediction-markets"
        },
        {
          "name": "FanDuel Group release via PR Newswire: FanDuel and CME Group launch FanDuel Predicts (2025-12-22)",
          "url": "https://www.barchart.com/story/news/36746695/fanduel-and-cme-group-launch-fanduel-predicts-to-give-customers-the-power-to-trade-on-tomorrow-s-headlines"
        },
        {
          "name": "FanDuel: Are FanDuel prediction markets safe to trade on?",
          "url": "https://www.fanduel.com/prediction-market-guide/are-prediction-markets-safe-to-trade-on"
        },
        {
          "name": "FanDuel Predicts risk disclosures (June 2026)",
          "url": "https://www.fanduel.com/predicts-riskdisclosures"
        },
        {
          "name": "DeFi Rate: Flutter moves all FanDuel Predicts sports contracts to Crypto.com (2026-08-05)",
          "url": "https://defirate.com/news/flutter-moves-fanduel-predicts-sports-contracts-crypto-com/"
        },
        {
          "name": "Casino.org: FanDuel moving sports event contracts to Crypto.com (2026-08-06)",
          "url": "https://www.casino.org/news/fanduel-moving-sports-event-contracts-to-crypto-com/"
        },
        {
          "name": "Casino.org: FanDuel lands FCM license, but CME isn't involved (2026-10-07)",
          "url": "https://casino.org/news/fanduel-lands-fcm-license-but-cme-isnt-involved"
        },
        {
          "name": "Yogonet: FanDuel launches prediction markets in all 50 states (2026-01-20)",
          "url": "https://www.yogonet.com/international/news/2026/01/20/117220-fanduel-launches-prediction-markets-in-all-50-states"
        },
        {
          "name": "DeFi Rate: FanDuel Predicts page (modified 2026-10-06)",
          "url": "https://defirate.com/prediction-markets/fanduel/"
        }
      ],
      "unverified": [
        "FanDuel's support centre (support.fanduel.com, including its Predicts help pages) could not be opened in this session because the fetch permission was not granted.",
        "FanDuel's current list of states with sports contracts was not found on a FanDuel page. Its map lists 26 Predicts states, but the latest per-state sports list found (press, January 2026) has 18 states. Sports availability in ME, MS, MT, NV, NH, OR, WA and WI, which the map lists as Predicts states, was not confirmed.",
        "No FanDuel statement on tax forms (e.g. 1099-B) for Predicts was found. DeFi Rate says FanDuel 'hasn't published detailed tax guidance'.",
        "The fanduel.com/predicts page still says contracts are 'listed by CME Group derivatives exchanges' and does not mention Crypto.com. The date the sports contracts finished moving to Crypto.com was not confirmed.",
        "The name of the entity behind FanDuel's October 2026 NFA/FCM approval, and whether Predicts accounts have moved to it, were not confirmed. DeFi Rate (April 2026) reported a filing by 'New Venture III LLC'.",
        "No state-specific age exceptions for Predicts were found. The 21+ shown in some FanDuel page footers applies to sports wagering."
      ]
    },
    {
      "slug": "underdog",
      "name": "Underdog",
      "aliases": [
        "Underdog",
        "Underdog Predict"
      ],
      "state_pages": false,
      "kind": "app",
      "tagline": "Underdog's Prediction Picks, traded on its own exchange and on partner exchanges.",
      "operator": "UDM, LLC d/b/a Underdog Predict",
      "operator_slug": "underdog",
      "how_offered": "Offered as 'Prediction Picks' inside the Underdog app, through UDM, LLC d/b/a Underdog Predict, a CFTC-registered FCM. Underdog says each market comes from one of several regulated exchanges (its own UDX, Kalshi or Nadex), chosen by Underdog.",
      "routes_through": "Underdog's own exchange UDX (Aristotle Exchange DCM/DCO, Inc. d/b/a Underdog Exchange), plus Kalshi and Nadex (Crypto.com | Derivatives North America)",
      "launched": {
        "date": "2025-09",
        "text": "Underdog's sports predictions were live in 16 states by September 2, 2025, through a partnership with Crypto.com Derivatives North America. Underdog's own exchange, UDX, went live on July 17, 2026.",
        "source_url": "https://www.legalsportsreport.com/240608/underdog-launches-sports-predictions-through-crypto-com-partnership/"
      },
      "availability": {
        "summary": "Underdog says Prediction Picks are available in every state and DC except Arizona, Michigan, Nevada and New York. US territories and Ontario are excluded. Eligibility depends on physical location at the time of trading. Underdog does not publish a separate sports-only restriction list. Its help centre also names 14 states where Prediction Picks are offered but Pick'em and Drafts are not.",
        "model": "all_states_except",
        "listed_states": [
          "AZ",
          "MI",
          "NV",
          "NY"
        ],
        "sports_restricted_states": [],
        "per_state_notes": [
          {
            "state": "OH",
            "note": "Underdog's eligible-states page names Ohio, and CT, HI, ID, IA, LA, ME, MD, MA, MT, MS, NJ, PA and WA, as states where users can use Prediction Picks but not Pick'em or Drafts.",
            "source_url": "https://help.underdogsports.com/en/articles/14127517-eligible-states-for-prediction-picks"
          }
        ],
        "source_url": "https://help.underdogsports.com/en/articles/14127517-eligible-states-for-prediction-picks",
        "source_name": "Underdog help centre: Eligible States for Prediction Picks (dated 2026-09-10)",
        "as_of": "2026-10-22"
      },
      "min_age": {
        "age": 18,
        "exceptions": [],
        "source_url": "https://help.underdogsports.com/en/articles/14127517-eligible-states-for-prediction-picks"
      },
      "tax_reporting": null,
      "kyc": {
        "text": "Underdog Predict's Terms of Use say UDM must obtain, verify and record identifying information for each account holder. Its help centre also describes a suitability questionnaire (employment, annual income, trading experience) that it says regulation requires.",
        "source_url": "https://underdogpredict.pactsafe.io/versions/69b875cfa4428cb8abaf6593.pdf",
        "quote": "UDM is required to obtain, verify, and record information that identifies each person who opens a UDM Account."
      },
      "contract_categories": [
        "sports"
      ],
      "regulator_note": {
        "text": "UDM, LLC d/b/a Underdog Predict is a CFTC-registered futures commission merchant and NFA member. Underdog also owns a DCM/DCO, 'Aristotle Exchange DCM/DCO, Inc. d/b/a Underdog Exchange' (UDX), which the CFTC's DCM list still shows as 'Aristotle Exchange DCM, Inc.' (designated 2025-09-05). Markets may also come from Kalshi or Nadex. Underdog's help centre calls Prediction Picks financial instruments traded through a regulated exchange.",
        "source_url": "https://legal.underdogpredict.com/underdog-predict-legal-center",
        "quote": "Futures Commission Merchant Services are offered by UDM, a member of NFA."
      },
      "sources": [
        {
          "name": "Underdog help centre: Eligible States for Prediction Picks",
          "url": "https://help.underdogsports.com/en/articles/14127517-eligible-states-for-prediction-picks"
        },
        {
          "name": "Underdog help centre: Your Exchange & Why Experiences May Differ",
          "url": "https://help.underdogsports.com/en/articles/14127510-your-exchange-why-experiences-may-differ"
        },
        {
          "name": "Underdog help centre: What are Prediction Picks?",
          "url": "https://help.underdogsports.com/en/articles/14127507-what-are-prediction-picks"
        },
        {
          "name": "Underdog help centre: Your Prediction Picks Account",
          "url": "https://help.underdogsports.com/en/articles/14127584-your-prediction-picks-account"
        },
        {
          "name": "Underdog Predict Legal Center",
          "url": "https://legal.underdogpredict.com/underdog-predict-legal-center"
        },
        {
          "name": "Underdog Predict Terms of Use (PDF)",
          "url": "https://underdogpredict.pactsafe.io/versions/69b875cfa4428cb8abaf6593.pdf"
        },
        {
          "name": "Legal Sports Report: Underdog launches sports predictions through Crypto.com partnership (2025-09-02)",
          "url": "https://www.legalsportsreport.com/240608/underdog-launches-sports-predictions-through-crypto-com-partnership/"
        },
        {
          "name": "The Block: Crypto.com and Underdog team up to launch sports prediction markets (2025-09-02)",
          "url": "https://www.theblock.co/post/369042/crypto-com-underdog-sports-prediction-markets"
        },
        {
          "name": "DeFi Rate: Underdog launches in-house exchange (2026-07-17)",
          "url": "https://defirate.com/news/underdog-nears-launch-in-house-exchange-filing-first-sports-event-contracts/"
        },
        {
          "name": "CFTC: Designated Contract Markets list (Aristotle Exchange DCM, Inc.)",
          "url": "https://www.cftc.gov/IndustryOversight/IndustryFilings/TradingOrganizations"
        },
        {
          "name": "DeFi Rate: Underdog Predict page (updated 2026-10-21)",
          "url": "https://defirate.com/prediction-markets/underdog-predict/"
        }
      ],
      "unverified": [
        "No Underdog statement on tax forms (e.g. 1099-B) for Prediction Picks was found. The help centre's 'Account, Funds & Taxes' article does not mention taxes, and the Futures Account Agreement PDF could not be read.",
        "Whether any states get Prediction Picks without sports, or with only some sports, was not found. Underdog publishes only the eligible and ineligible lists.",
        "DeFi Rate reports 19+ in Alabama and Nebraska and 21+ in some states, but Underdog's eligibility page says 18 or older with no state exceptions. The stricter ages were not confirmed.",
        "No Underdog statement tying Prediction Picks availability to where Underdog holds a sportsbook licence was found. At launch (September 2025), Underdog said it would prioritise states where legal sports betting had not been adopted.",
        "Whether Underdog still uses Crypto.com's CDNA beyond the 'Nadex' rules it cites, and what share of markets runs on UDX, was not confirmed.",
        "Any non-sports categories were not confirmed on Underdog's own pages. LSR mentions non-sports categories, but Underdog's help pages describe only sports outcomes."
      ]
    },
    {
      "slug": "prizepicks",
      "name": "PrizePicks",
      "aliases": [
        "PrizePicks"
      ],
      "state_pages": false,
      "kind": "app",
      "tagline": "PrizePicks' Team and Culture Picks, event contracts listed on Kalshi.",
      "operator": "Performance Predictions II, LLC d/b/a PrizePicks Predict",
      "operator_slug": "prizepicks",
      "how_offered": "Offered inside the PrizePicks app as 'Team Picks' (sports event contracts) and 'Culture Picks' (non-sports event contracts), through PrizePicks' subsidiary FCM Performance Predictions II, LLC d/b/a PrizePicks Predict. Kalshi supplies the contracts.",
      "routes_through": "Kalshi",
      "launched": {
        "date": "2025-11-14",
        "text": "PrizePicks launched prediction markets through a multiyear Kalshi partnership on November 14, 2025, in 38 states plus DC, with sports markets in 15 states.",
        "source_url": "https://sbcamericas.com/2025/11/14/prizepicks-prediction-markets-kalshi/"
      },
      "availability": {
        "summary": "Culture Picks (non-sports) are offered everywhere except Arizona, Nevada, New York and Washington. Team Picks (sports) are not offered in a further set of states that PrizePicks names. PrizePicks' two help pages disagree on New Hampshire, Louisiana and New Jersey.",
        "model": "all_states_except",
        "listed_states": [
          "AZ",
          "NV",
          "NY",
          "WA"
        ],
        "sports_restricted_states": [
          "CO",
          "CT",
          "DC",
          "DE",
          "IL",
          "KY",
          "MA",
          "MD",
          "MI",
          "MO",
          "NH",
          "NM",
          "OH",
          "PA",
          "TN"
        ],
        "per_state_notes": [
          {
            "state": "NH",
            "note": "The eligibility page lists New Hampshire under access to Player and Culture Picks but NOT Team Picks. The where-can-I-play page lists NH among Team Picks states. The pages conflict.",
            "source_url": "https://www.prizepicks.com/help-center/eligibility"
          },
          {
            "state": "LA",
            "note": "The eligibility page lists Louisiana with Team and Culture Picks at 18+. The where-can-I-play page omits LA from its written Team Picks list (its table shows a checkmark) and gives Culture Picks as 21+ in LA.",
            "source_url": "https://www.prizepicks.com/help-center/where-can-i-play"
          },
          {
            "state": "NJ",
            "note": "The eligibility page lists New Jersey with Team and Culture Picks. The where-can-I-play written Team Picks list omits NJ, though its table shows a checkmark.",
            "source_url": "https://www.prizepicks.com/help-center/eligibility"
          },
          {
            "state": "IA",
            "note": "The eligibility page lists Iowa at 18+. The where-can-I-play page says Team and Culture Picks are 21+ in Iowa.",
            "source_url": "https://www.prizepicks.com/help-center/where-can-i-play"
          },
          {
            "state": "MI",
            "note": "The eligibility page lists Michigan, Pennsylvania, Connecticut, Ohio and Maryland as 'Culture Picks ONLY', so there are no Team Picks there.",
            "source_url": "https://www.prizepicks.com/help-center/eligibility"
          }
        ],
        "source_url": "https://www.prizepicks.com/help-center/eligibility",
        "source_name": "PrizePicks help centre: Eligibility (last updated 2026-10-19)",
        "as_of": "2026-10-22"
      },
      "min_age": {
        "age": 18,
        "exceptions": [
          {
            "state": "AL",
            "age": 19,
            "source_url": "https://www.prizepicks.com/help-center/where-can-i-play"
          },
          {
            "state": "CO",
            "age": 19,
            "source_url": "https://www.prizepicks.com/help-center/where-can-i-play"
          },
          {
            "state": "IL",
            "age": 21,
            "source_url": "https://www.prizepicks.com/help-center/where-can-i-play"
          },
          {
            "state": "MA",
            "age": 21,
            "source_url": "https://www.prizepicks.com/help-center/where-can-i-play"
          },
          {
            "state": "VA",
            "age": 21,
            "source_url": "https://www.prizepicks.com/help-center/where-can-i-play"
          }
        ],
        "source_url": "https://www.prizepicks.com/help-center/eligibility"
      },
      "tax_reporting": {
        "text": "PrizePicks says it issues Form 1099-B for Team and Culture Picks, reporting all gains or losses from buying and selling event contracts, with no threshold stated. Forms are generally uploaded in February for the prior year, in the app's Tax Information section. Other PrizePicks pick types get a 1099-MISC at $600+ in net winnings.",
        "source_url": "https://www.prizepicks.com/help-center/taxes",
        "quote": "The Internal Revenue Service requires PrizePicks to provide you with Form 1099-B."
      },
      "kyc": {
        "text": "Standard PrizePicks verification asks for full legal name as on a government ID, date of birth, home address and email, and may ask for a selfie with ID. Team and Culture Picks need an extra check that the user has a valid Social Security Number.",
        "source_url": "https://www.prizepicks.com/help-center/verification",
        "quote": "go through an additional verification process to show that you have a valid Social Security Number."
      },
      "contract_categories": [
        "sports",
        "culture",
        "entertainment"
      ],
      "regulator_note": {
        "text": "Team and Culture Picks are event contracts offered by Performance Predictions II, LLC d/b/a PrizePicks Predict, a CFTC-registered FCM and NFA member. Its regulatory page links to Kalshi's exchange documents.",
        "source_url": "https://www.prizepicks.com/teamandculturepicks",
        "quote": "Performance Predictions II, LLC d/b/a PrizePicks Predict, a CFTC-registered FCM and NFA Member."
      },
      "sources": [
        {
          "name": "PrizePicks help centre: Eligibility (updated 2026-10-19)",
          "url": "https://www.prizepicks.com/help-center/eligibility"
        },
        {
          "name": "PrizePicks help centre: Where can I play (updated 2026-10-19; state table marked 2026-05-19)",
          "url": "https://www.prizepicks.com/help-center/where-can-i-play"
        },
        {
          "name": "PrizePicks help centre: Taxes (updated 2026-10-19)",
          "url": "https://www.prizepicks.com/help-center/taxes"
        },
        {
          "name": "PrizePicks help centre: Verification (updated 2026-10-19)",
          "url": "https://www.prizepicks.com/help-center/verification"
        },
        {
          "name": "PrizePicks: Predict regulatory page",
          "url": "https://www.prizepicks.com/predict-regulatory"
        },
        {
          "name": "PrizePicks: Team & Culture Picks page",
          "url": "https://www.prizepicks.com/teamandculturepicks"
        },
        {
          "name": "SBC Americas: PrizePicks launches sports prediction markets with Kalshi (2025-11-14)",
          "url": "https://sbcamericas.com/2025/11/14/prizepicks-prediction-markets-kalshi/"
        },
        {
          "name": "Legal Sports Report: Underdog Predict vs. PrizePicks Predict",
          "url": "https://www.legalsportsreport.com/prediction-markets/underdog-predict-vs-prizepicks-predict/"
        }
      ],
      "unverified": [
        "Whether Polymarket (announced as a partner on 2025-11-11) now supplies any PrizePicks contracts was not confirmed. A Legal Sports Report comparison page says the integration is not yet live, and PrizePicks' own pages name only Kalshi's exchange documents.",
        "PrizePicks' help pages disagree on Team Picks in NH, LA and NJ and on the age in IA and LA (see per_state_notes). The where-can-I-play page also gives inconsistent totals (33 vs '34 states + D.C.' for Team Picks; 47 vs 46 + DC for Culture Picks).",
        "Nevada and Washington are not listed anywhere on the eligibility page. They are treated as excluded because the where-can-I-play table marks Culture Picks unavailable there.",
        "The predict-regulatory page says 18+ for all event contract customers, while the help centre gives state ages of 19+ and 21+. Both are recorded.",
        "PrizePicks gives no reason tied to sportsbook or DFS licensing for withholding Team Picks. It says only that local rules limit which games it offers in some states."
      ]
    },
    {
      "slug": "fanatics-markets",
      "name": "Fanatics Markets",
      "aliases": [
        "Fanatics Markets",
        "Fanatics"
      ],
      "state_pages": false,
      "kind": "app",
      "tagline": "Fanatics' prediction-market app, live in a published list of states.",
      "operator": "Morton St. Trading Investments, LLC d/b/a Fanatics Markets",
      "operator_slug": "fanatics-markets",
      "how_offered": "A standalone Fanatics Markets app and website. Contracts are offered through Crypto.com | Derivatives North America, and accounts are with Fanatics' FCM, Morton St. Trading Investments, LLC d/b/a Fanatics Markets.",
      "routes_through": "Crypto.com | Derivatives North America (Nadex rules)",
      "launched": {
        "date": "2025-12-03",
        "text": "Fanatics announced the launch of Fanatics Markets on December 3, 2025, live in 10 states (AK, DE, HI, ID, ME, NH, ND, RI, SD, UT), with 14 more planned. Its first phase covered sports, finance, economics and politics.",
        "source_url": "https://fanaticsinc.com/press-releases/fanatics-launches-fanatics-markets-the-first-prediction-market-at-the-intersection-of-sports-finance-and-culture"
      },
      "availability": {
        "summary": "Fanatics Markets lists the places where it is live: 22 states plus American Samoa, Guam, Puerto Rico and the US Virgin Islands. It does not publish a separate list of states where sports contracts are unavailable.",
        "model": "only_listed_states",
        "listed_states": [
          "AK",
          "AL",
          "CA",
          "DE",
          "FL",
          "GA",
          "HI",
          "ID",
          "ME",
          "MN",
          "MS",
          "ND",
          "NE",
          "NH",
          "NM",
          "OK",
          "OR",
          "RI",
          "SC",
          "SD",
          "TX",
          "UT"
        ],
        "sports_restricted_states": [],
        "per_state_notes": [
          {
            "state": "WA",
            "note": "The December 2025 launch release named Washington among the 24 planned states, but Washington is not on Fanatics Markets' current 'Where We're Live' list.",
            "source_url": "https://fanaticsinc.com/press-releases/fanatics-launches-fanatics-markets-the-first-prediction-market-at-the-intersection-of-sports-finance-and-culture"
          }
        ],
        "source_url": "https://fanaticsmarkets.com/legal/availability",
        "source_name": "Fanatics Markets: Where We're Live",
        "as_of": "2026-10-22"
      },
      "min_age": {
        "age": 21,
        "exceptions": [],
        "source_url": "https://fanaticsmarkets.com/legal/fcm-important-risk-disclosures"
      },
      "tax_reporting": null,
      "kyc": null,
      "contract_categories": [
        "sports",
        "finance",
        "economics",
        "politics"
      ],
      "regulator_note": {
        "text": "Morton St. Trading Investments, LLC d/b/a Fanatics Markets is a CFTC-registered futures commission merchant and NFA member. Contracts are offered through Crypto.com | Derivatives North America, which Fanatics' launch release called a CFTC-registered exchange and clearinghouse. At launch in December 2025, Fanatics named Paragon Global Markets, LLC d/b/a Fanatics Markets IB, a CFTC-registered introducing broker.",
        "source_url": "https://fanaticsmarkets.com/legal/regulatory",
        "quote": "Contracts are offered by Fanatics Markets through Crypto.com | Derivatives North America."
      },
      "sources": [
        {
          "name": "Fanatics Markets: Where We're Live",
          "url": "https://fanaticsmarkets.com/legal/availability"
        },
        {
          "name": "Fanatics Markets home page (footer disclosures)",
          "url": "https://www.fanaticsmarkets.com/"
        },
        {
          "name": "Fanatics Markets: Regulatory",
          "url": "https://fanaticsmarkets.com/legal/regulatory"
        },
        {
          "name": "Fanatics Markets: FCM important risk disclosures",
          "url": "https://fanaticsmarkets.com/legal/fcm-important-risk-disclosures"
        },
        {
          "name": "Fanatics Markets: Sports prediction markets (Learn, modified 2026-10-07)",
          "url": "https://fanaticsmarkets.com/learn/sports-prediction-markets"
        },
        {
          "name": "Fanatics press release: Fanatics launches Fanatics Markets (Dec 3)",
          "url": "https://fanaticsinc.com/press-releases/fanatics-launches-fanatics-markets-the-first-prediction-market-at-the-intersection-of-sports-finance-and-culture"
        },
        {
          "name": "The Block: Fanatics launches prediction market with Crypto.com (2025-12-03)",
          "url": "https://www.theblock.co/post/381288/sports-apparel-giant-fanatics-launches-prediction-market-with-crypto-com"
        }
      ],
      "unverified": [
        "Fanatics Markets' help centre (support.fanaticsmarkets.com) did not render, so no identity-verification or tax-form (1099) statement was found.",
        "Whether any listed state gets only non-sports contracts was not found. The availability page has one list and no category breakdown.",
        "Fanatics' own pages do not say whether Fanatics Markets is withheld where Fanatics Sportsbook is licensed. That relationship was not confirmed.",
        "The 'Where We're Live' page shows no date. Whether the second-phase categories announced for early 2026 (crypto, stocks/IPOs, climate, pop culture, tech/AI, movies, music) have launched was not confirmed.",
        "When the account relationship moved from the introducing broker named at launch (Paragon Global Markets) to Fanatics' own FCM (Morton St. Trading Investments) was not confirmed."
      ]
    }
  ]
}